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Millenium buys Hotel Melia Bilbao for €49.3M
12 November 2019 | Vanessa Sousa

Millenium Hotels Real Estate’s portfolio welcomes a new asset, Hotel Melia Bilbao, which was traded for 49.3 million euro. The name of the seller was not disclosed.

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This five-star hotel, located at number 29 Calle Lehendakari in Bilbao offers 211 rooms, 3 restaurants, areas for events, a wellness centre with gym and a semi-external heated swimming pool. In total the hotel has a 19.623 sqm built area.

According to the company, within the report made available by Mercado Alternativo Bursátil, this transaction was carried out using the company’s own financial resources and a bank loan for around half the amount from bank Kutxabank.

This was the second operation carried out by the Spanish REIT during this year’s second semester. The first concerned the former Asturias hotel, which will become the Hotel W Madrid, from Marriott. In this last operation, Millenium spent 82 million euro.