The agreed price is around 210 million euro, which represents a record for the Madrid market, since it is more than 1.4 millon for each of the 150 rooms of the luxury hotel. The process was advised by JLL.
Dogus holding sells the hotel only two years after having purchased it from Portuguese businessman Pedro Queiroz for 180 millon. The sale of the Villa Magna hotel only reached the market a few months ago, after its current owners , the Turkish group belonging to the Sahenk family, had to put out for sale several of their real estate assets.
RLH Properties has experience managing hotel assets for brands like Four Seasons, Rosewood or Fairmont.