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HIP sells hotel in Madrid
17 June 2019 | Vanessa Sousa

HIP Hotel Investment Partners sold one of its 62 hotels in Spain to chain Catalonia Hotels & Resorts. The amount of the operation was not disclosed.

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Hotel NH Madrid Sur is located at number 113 Avenida de la Ciudad de Barcelona in the Spanish capital. This three-star hotel has 62 rooms and, according to Spanish newspaper El Economista, should keep operating under the brand NH, from NH Hotel Group.

This transaction is part of HIP’s (currently managed by American fund Blackstone) current strategy of investing in hotels which follow two requirements. First, the hotels should be located in holiday destinations. Secondly, they should be large hotels, with 200 or more rooms.

For hotel chain Catalonia Hotels & Resorts, this deal represents the «reinstatement of its expansion policy based on market opportunities», mentions the person in charge for the company’s expansion department to the same newspaper. The expansion reaches Bilbao, San Sebastian and Malaga, cities where it already has projects under way.