RLH Properties acquires luxury hotel in Spain

January 15, 2019
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This article was written and published in Spanish and has been translated into English via Google Translate. Click here to read the original article.

RLH Properties, a Mexican company, announced the purchase of Hotel Villa Magna in Madrid, Spain for $238 million; the luxury complex located on the Paseo de la Castellana was owned by the Turkish conglomerate Dogus Group.

Jerónimo Bremer, president of the executive committee of RLH and founding partner of BK Partners commented, "The hotel is one of the most representative in Europe within the luxury segment and confirms our enormous confidence in the Spanish market, one of the most dynamic and attractive in the world."

According to information from the Mexican firm, the repositioning of the brand as an ultra-luxury product comes with improvements such as the construction of a pool or the acquisition of land (close to the property) for residences and the expansion of its hotel portfolio.

Villa Magna has 150 rooms; an area of ​​29 thousand 738 m² of construction and 7 thousand 500 m² of land and multiple amenities such as 240 underground parking spaces, spa with gym, bars and restaurants, among others.

The purchase has been considered a new record, surpassing the previous payment of Dogus Group (180 million euros) made two years ago. It is also registered as the largest operation in Spain in price per room, with an amount of $1.2 million per room.

This article was written and published in Spanish and has been translated into English via Google Translate. Click here to read the original article.

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January 15, 2019

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