El Corte Inglés and Palladium finalize the sale of five hotels

El Corte Inglés and Palladium finalize the sale of five hotels
Gran Hotel Colón, in Madrid

According to El Confidencial, the transaction will close before the end of the year for an amount close to 135 million euros, although it could rise to 150 million.

Venture capital Eurazeo and hotel manager Westmont Hospitality Group are best positioned to acquire the portfolio. The offer of the second would be somewhat higher than that of the first, which makes it a favorite.

The complexes that will enter into operation will be: the Gran Hotel Colón, in Madrid; the Ayre Hotel Gran Vía, in Barcelona; the Ramiro I and Alfonso II, in Oviedo; one in Córdoba and one plot in Porto. All are focused on urban tourism.

In five years Palladium and El Corte Inglés have tried to sell this portfolio three times without success. On this occasion, they have hired BBVA and Deloitte.

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