The businessman Jon Riberas, owner of Gestamp together with his brother Francisco J. Riberas, has once again bet on real estate through his family office with the purchase of the Palacio del Retiro hotel, one of the hotel jewels of Madrid, for an amount of around 60 million euros, according to Expansión.
The asset has fifty rooms, so that Riberas would have paid more than one million euros per room.
The hotel, declared a national monument, has a strategic location at number 14 Alfonso XII Street in the capital, opposite the famous Retiro Park, in the centre of the Art Triangle, near the Prado Museum, the Thyssen and the Reina Sofia.
The building, which was erected in 1913 as the Oriol family residence, has been owned by the family for decades. It housed the offices of Talgo, the railway company, and in 2004 it was refurbished to become a high-end hotel, initially operated by the AC Hoteles chain. The establishment is currently managed by Belagua, Antonio Catalán's company, and operated by the Autograph Collection brand of the US Marriott group.