On 27 October 2022, Millenium Hospitality Real Estate Socimi, S.A. acquired the Iberostar Las Letras Gran Vía hotel in Madrid, located at 11 Gran Vía street, for a total amount of EUR 70 million plus transaction costs.
The purchase of this asset was made entirely with own resources. The hotel acquired, with 109 rooms, has a privileged location, as it is practically at the intersection of Gran Vía and Alcalá streets, today the cultural and commercial epicentre of the Spanish capital, where some of the most important international luxury hotels are located, to which the future JW Marriot, Zorrilla 19 and Nobu Madrid hotels, also owned by MHRE, will soon be added.
