The SOCIMI Hotei Properties Group has completed the sale of the Radisson Collection Gran Vía Bilbao hotel for €42 million, in a transaction that marks a new step in the reorganisation of its portfolio. The company has notified BME Growth of the transaction, signed by its CEO, Borja Escalada.
The asset had been debt-free since March 2026, when the debt was repaid upon maturity. This financial detail has facilitated the transaction as part of the SOCIMI’s balance sheet simplification strategy. The sale forms part of a broader process of adjusting its exposure in certain urban markets.
The asset sold, the Radisson Collection Gran Vía Bilbao, is a five-star establishment with 137 rooms. It opened in 2022 following the conversion of a historic building constructed in 1950 by the architect Manuel Ignacio Galíndez Zabala, which for decades housed various banking institutions. Its location is one of its main attractions, as it is situated on Gran Vía, the city’s main thoroughfare, and less than a ten-minute walk from the Guggenheim Museum and other key areas of tourist and cultural interest.
Furthermore, the hotel holds LEED Platinum certification, an international accolade that attests to its high level of sustainability and energy efficiency. This factor has been decisive in its positioning within the high-end hotel market since its opening.
With this transaction, Hotei Properties consolidates its exit from the Bilbao market, a city that is no longer considered strategic for the company. This decision is not an isolated one, but forms part of a broader repositioning towards hotel assets that are better suited to its new roadmap. The divestment of the Radisson Collection comes just a few months after the sale of the Meliá Bilbao hotel, which was completed in March for €63 million. Taken together, the SOCIMI has executed two sales in the capital of Biscay within a short period, totalling €105 million.
This move reflects a strategy to concentrate the portfolio on assets considered more aligned with the company’s current profile. The priority, as indicated by the information disclosed to the market, is to reduce geographical dispersion and enhance the average quality of the hotels it owns.
