Alting sells Hotel Pedralbes in Barcelona to a Catalan family office

Alting sells Hotel Pedralbes in Barcelona to a Catalan family office

The real estate group has sold to a Catalan family office the Hotel Pedralbes, a three-star establishment with thirty rooms located in the Sarrià-Sant Gervasi district of Barcelona, specifically at number 4 Fontcoberta street, according to a statement sent by the company.

The deal has been closed for around nine million euros, according to EjePrime, who estimate the price per room at 300,000 euros. In addition, the same source points out that the local group that has acquired the establishment expects a profitability of 5.5% in the operation.

The Pedralbes hotel, located near Avenida Diagonal next to the university area and the Camp Nou stadium, has thirty rooms and 1,310 square metres distributed over a basement, ground floor and seven upper floors.

In January 2017, Alting acquired the Hotel Pedralbes for around four million euros after the bankruptcy of one of the companies of the hotel group Husa, Joan Gaspart's hotel company. In addition to Alting, various national and international hotel groups and family offices participated in the insolvency proceedings.

After the acquisition, Alting's technical department carried out an exhaustive process of modernisation and updating of the common areas as well as the rooms. Between the purchase and the upgrading, the company invested around six million euros, so that the capital gain from the divestment is around three million euros.

From 2018 to 2020, the hotel was leased to the international group Ginosi Apartels&Hotels, although in 2022, Alting leased the property to the German group Limehome, current tenant of Hotel Pedralbes, which will continue to operate the establishment.

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