Expo Hotel Valencia is being negotiated for more than €30M

Expo Hotel Valencia is being negotiated for more than €30M

This three-star hotel has a total of 378 rooms and is located at number 4 Avenida de Pius XII in Valencia, next to El Corte Inglés. The names of the interested parties were not disclosed.

The negotiation of this asset follows the sale of Nobu Hotel Barcelona at the end of last year for around 80 million euro to ASG Iberia. According to sources inquired by Vozpópuli, this deal marked the start of a divestment process for the group which has a current debt of more than 250 million euro. Its goal will be to sell its entire portfolio.

In Barcelona, Selenta has the Hotel Sofía, with 465 rooms and the Expo Hotel Barcelona, a 4-star hotel with 423 rooms. In Marbella, it has the Don Carlos with almost 250 rooms, in Tenerife the complex Mare Nostrum (with more than 1.000 rooms) and a 5-star boutique hotel with 70 rooms in the Southern area of the same island, called Sir Anthony.

According to the daily newspaper, the possibility of negotiating the entire portfolio with a single player is on the table and it could reach 500 million euro. Amongst the possible buyers are Goldman Sachs, Cerberus, Blackstone and Starwood Capital.

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