The Hotel Monegal in Barcelona, located on Calle Pelayo, next to the Ramblas and Plaza de Catalunya, is on the market, according to sources in the sector.
The establishment belongs to a group of Catalan investors, who have now decided to divest by placing it on the market through various consulting firms for a price close to 30 million euros. The 53-room building offers a net return of 6% on the sale price. Along with the hotel space, it has an area for offices, on the main and first floor, of 800 sqm that is currently empty.
The hotel has a renovation project. Thus, with an investment of about four million euros, the possibility opens up for the establishment to go from the current four stars to five, increasing the profitability of the investment. Barcelona is going through a fever of buying and selling hotels. In recent months, emblematic establishments such as Sofia, NH Calderón, Apolo, President or Grand Hotel Central, among others, have changed hands.