Hotel news and transactions from around the European region: Mercadona acquires AC Aravaca hotel in Madrid from Antonio Catalan, IMAXXAM acquires B&B Hotel and more...

Mercadona acquires AC Aravaca hotel in Madrid from Antonio Catalan
Spanish supermarket chain Mercadona has acquired the four-star, 110-room AC Hotel Aravaca in Madrid, Spain, from Spanish hotelier Antonio Catalan through his company Belagua 2013 SA, for around €16 million (€146,000 per room). Led by Spanish billionaire businessman Juan Roig, Mercadona is expected to convert the hotel into a supermarket by 2025. The property sits in the Moncloa-Aravaca district in the north-west of Madrid, some 10 km from the historic city centre along the A-6 highway. After founding AC Hoteles in 1998, Antonio Catalan entered a joint venture with Marriott International in 2011, and exited from his remaining 40% stake in 2019 for a reported €140 million, which valued the group at €350 million at the time. AC Hotels by Marriott now includes over 155 properties in 20 countries.

Extendam and Engage Hospitality acquire Ibis Styles Zaragoza Ramiro I in Spain
French hotel private equity firm Extendam has acquired the three-star, 70-room ibis Styles Zaragoza Ramiro I hotel in Zaragoza, Spain, for an undisclosed price. This acquisition was made in partnership with DG Invest, a vehicle owned by Engage Hospitality. The latter is spearheaded by Laurent Gauze, one of southern Europe’s largest Accor franchisees, and ex-Accor General Manager for southern Europe Jean-Charles Delgado. Zaragoza is Spain’s fifth largest city by population, and is located almost midway between Madrid and Barcelona on the country’s main high-speed rail line, with train connections to each of Spain’s two largest cities within 75 mins to 85 mins.

IMAXXAM acquires B&B Hotel in Frankfurt from A.A.A.
German asset management group IMAXXAM, part of the IMAXX Group, has acquired the two-star, 109-room B&B Hotel Frankfurt-West in Germany from local real estate investment company A.A.A. Aktiengesellschaft Allgemeine Anlageverwaltung, for an undisclosed price. The hotel additionally comprises 2,750 sqm of rental space and 52 parking spaces. Founded in 2017, IMAXXAM presently has €1.5 billion in assets under management and focuses on small to mid-sized assets in core and core+ cities. A.A.A. procures and develops industrial and commercial real estate properties with the aim to rent, manage or sell them, having been in business since 1890.

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