M&G Real Estate has acquired the Travelodge Poblenou Hotel in Barcelona for €50 million. ($58 million), on behalf of the €4.8 billion ($5.6 billion) M&G European Property Fund, Europe’s largest open-end real estate fund excluding the United Kingdom.
The transaction marks the fund’s first dedicated hotel acquisition, reflecting its selective approach to entering new sectors where strong fundamentals and long leases support long-term performance.
Barcelona is one of Europe’s most visited cities, with international tourism, corporate travel and the expansion of the nearby 22@ tech district, a major attraction for global startups and entrepreneurs.
Well-located hotels, such as Travelodge Poblenou, are set to benefit from sustained occupancy and long-term pricing power, due to strict planning regulations limiting new hotel development and the planned ban on short-term rentals from 2028.
Located in the heart of Poblenou, one of Barcelona’s f
