Investment group Eurazeo and the hotel manager Westmond Hospitality Group are bidding to takeover the Ayre hotels chain, according to media reports in Spain.
The company, which is part-owned by El Corte Inglés and the Palladium Hotel Group, is attracting offers of more than €135 million, Spanish newspaper Eje Prime reported.
Ayre has a number of hotels in Spain, including in Barcelona, Madrid and Cordoba. It is described as being the “urban hotel brand of the Palladium Hotel Group”.