Monthisa, a business group owned by the Montoro Zulueta family, has sold the Radisson Blu Hotel in Madrid to a family office for 26 million euros, which translates in almost 450,000 euros per room.
In October 2009 Monthisa refurbished an old listed building located at Calle Moratín 52 in Madrid and converted it into a small hotel with 54 rooms. Monthisa built a “turnkey” hotel for the international chain Radisson, constituting the first hotel that this chain established in Spain for its line of RADISSON BLU hotels. The building received the ASPRIMA 2010 award for the Best Renovation or Refurbishment.
The hotel has been completely refurbished in 2020 and currently has 58 rooms, a restaurant, spa, indoor swimming pool and terrace.
The current tenant of the property, the Radisson chain, will continue to manage the hotel, which has nearly 3,800 square metres distributed over five floors plus roof and one floor below ground level. The consultancy firm Catella has advised Monthisa on the sale.