The information was reported by consultant CBRE, which advised the seller in this process.
The 13 floor hotel offers 139 rooms, an open air swimming pool, gym, food courts and is located in the Spanish capital’s prime area. It currently operates – as the name indicates – under the brand Aloft, which is managed by Marriott International.
«This hotel benefits from a privileged situation in Madrid, which is currently one of the most solid European markets in terms of operational yield and liquidity. It is the first hotel in Spain to operate under the brand Aloft from Marriott, which spiked much interest among international investors», commented Miguel Casas Albandor, Head of Hotel Investment Properties at CBRE Continental Europe.
SafeGuard’s CEO, Chris Werner pointed out that «the fund’s investment in the development of Aloft has been a tremendous success».
Photo: Marriott International