Perial Asset Management, through the SCPI PF Hospitality fund, has closed the acquisition of nine hotels of the B&B chain. According to El Confidencial, it will pay 60 million euros for them. The operation has been advised by BNP Paribas Real Estate.
The transaction will be completed in two parts. The first, already closed, includes five assets in Catalonia: Figueres, Mollet del Vallès, Viladecans, Granollers and Salt. Perial will pay 25 million euros for these hotel complexes.
The second part of the transaction will close next May. This part of the portfolio has four assets located in Fuenlabrada, Albacete, Cartagena and Paterna. For these properties, Perial will pay 33.5 million.
Stéphane Collange, investment director at Perial, describes the operation: “This operation fully responds to the strategy of our SCPI PF Hospitalité Europe, which focuses on real estate assets in European cities in the managed accommodation sector. We pay special attention to the quality of operators such as B&B Hotels which, thanks to its "Budget & Economy" positioning for business tourism, has proven its resistance during the health crisis. "
Lucía Méndez-Bonito, CEO of B&B, explains: «Our sincere congratulations to Perial and Corum for this transaction. It is one more example of the excellent quality of B&B hotels and of B&B Hotels as a trusted operator and tenant, capable of increasing the value of hotel assets ».
In total, all the hotels transacted add up to about 1,000 rooms. The B&B Hotels chain will continue to operate the complexes for the next 11 years. B&B has more than 30 assets in Spain and 580 around the world. It is currently owned by Goldman Sachs, which bought it, in 2019, for 2 billion. The chain's policy is to expand in the management of the complexes without owning them.