Alzette Investment, owned by entities advised by affiliates of Blackstone Group, has plans to acquire a 16.65 percent stake in Hispania from QP Capital Holdings and QPB Holdings.
The sales price would be €315.4 million ($386.2 million).
Blackstone also has plans to launch a takeover bid to take over 100 percent of its capital, according to local Spanish outlets.
Hispania owns 46 hotels and more than 13,100 rooms with a value of €1 billion ($1.22 billion).
Recently, Blackstone Real Estate Partners Europe V acquired Hotel Investment Partners (HI Partners) from Banco Sabadell in October 2017. HI Partners owns a portfolio of 14 primarily coastal hotels with over 3,700 rooms in Spain’s most popular tourism destinations. And in August 2017 Banco Popular S.A. sold a majority stake in its real estate portfolio to Blackstone Real Estate Partners Europe V.
Madrid was ranked third in Colliers International’s latest European Cities of Influence report. This is the result of a shift in occupier strength and attractiveness, which has also run hand-in-hand with a significant jump in investment volumes in Madrid over the last year.
In 2017, Madrid recorded a 72 percent increase in acquisitions, making the Spanish capital the third-largest investment market in Europe for the first time as investors buy into the significant long-term potential of the city.
Hotel investment in Spain reached a record €3.9 billion in 2017, beating the previous record of €2.6 billion that was set in 2015, according to Colliers International. Spanish tourism increased investors’ interest. A total of 82 million overseas travelers visited Spain — a rise of almost 10 percent from 2016. Investments in property conversions into hotels and land sales increased 139.8 percent year-over-year to €478 million ($585 million) in response.
Most of the investment was in the resort sector, which experienced a 69 percent increase, outperforming the urban sector, which rose 31 percent. Hotel resort portfolio sales made up 86 percent of the total guestrooms changing hands in 2017.
Overseas acquisitions accounted for more than 60 percent of investments at €2.3 billion ($2.8 billion).
