Boscalt and Edmond de Rothschild, together with a Luxembourg fund, are preparing to create a new partnership in Spain to invest in the hotel market in Europe. Porto is in the crosshairs.
This new vehicle will have 500 million euros to invest in hotels in major European cities, says Expansión.
To the Spanish newspaper, Jaume Tàpies and Liza Masías, founding partners of Boscalt, explain that, through the creation of a new venture capital fund, for professional and non-professional investors, the idea is to raise between 250 and 300 million euros of liquidity which, with the associated debt, will make it possible to have a portfolio of 8 to 12 hotels in Europe, with a total of 1,500 rooms.
This fund will look for 4 and 5 star hotels with more than 70 rooms in London, Rome, Madrid, Barcelona, Bilbao, Seville or Porto. It currently has 31 projects under study, and those responsible are confident in a «unique moment in history to invest in the sector», cites Eco.