B&B Hotels and Construcciones Eliseo Pla have announced the extension of their partnership agreement for the development of new-build hotels in Spain, incorporating two new projects in Sagunto and Castellón.
With this expansion, the partnership between the two companies, which initially involved three properties, now comprises a total of five joint projects in the domestic market and brings the total investment to over €20 million.
The two new developments included in the agreement are a 3-star, 100-room hotel in Sagunto, which is currently under construction, and a 3-star, 136-room hotel to be located in the centre of Castellón.
These assets are being integrated into the existing work plan, which includes previous projects in the towns of Silla (Valencia), with 88 rooms, Alicante, with 96 rooms, and Dos Hermanas (Seville), with 87 rooms.
The operation is structured around a model in which the hotel chain takes on the management of the properties through guaranteed long-term lease agreements, while the construction firm leads the financial investment required for the acquisition of the land and the execution of the construction works.
The expansion is linked to B&B Hotels’ growth plans in the Iberian market, where it currently operates 87 properties and aims to build a network of around 200 hotels over the next five years. Internationally, it has a network of over 940 properties across 19 countries in Europe, Brazil and the United States. For its part, Construcciones Eliseo Pla is participating in this operation to diversify its asset portfolio through a turnkey project delivery model in partnership with an international partner.
