LaSalle Investment Management has acquired NH Collection Gran Hotel Calderon, located in the Ensanche district of Barcelona. The hotel has been purchased from NH Group SA on behalf of Encore+, LaSalle’s flagship pan-European fund.
David Ironside, fund manager of Encore+ at LaSalle, said, “This was a rare opportunity to acquire one of the leading hotels in Barcelona, a city which has been one of the strongest and fastest-growing hotel markets on the continent. As we diversify geographically and increase our exposure to the alternatives sector, this asset will contribute to the Fund performance.”
As the third most visited European city, with more than 22 million overnight stays in 2019, Barcelona benefits from a historically strong tourism sector, and the market enjoyed steady revenue-per-available-room growth over the last decade, reaching the highest average rate in the Spanish urban market in 2019. As the recovery in international travel steadily accelerates, t
