Last Monday, 26 of April, OCA Hotels and Stoneshield Capital reached an agreement through which the fund management company bought hotel OCA Burgos Centro, located at number 17 calle Calera, for around 9 million euro.
The new owner, Stoneshield Capital, will convert the building into a student residence. The operation required a capital injection for the company’s expansion, which is currently in the process of opening new units in Portugal. By midyear the company is expected to start its hotel activity in Porto and Lisbon.
This operation takes place soon after OCA Hotel’s sale of its establishments located in Rocallaura (Lleida) and Pantón (Lugo), both with four stars and dressing rooms. According to the company, the group sold these assets to support its expansion plan towards Brazil and Portugal, without having to produce a high financial leverage.