Paris-based Perial Asset Management has acquired a portfolio of nine hotels in Spain for one of its associated property funds.
The deal reportedly totalled €58.4 million, according to the website to Patrimoine24.
The properties are located across Spain. Eight of the properties have around 100 rooms, with one having 200 rooms. B&B Hotels operates the assets.
“This transaction is fully in line with the strategy of our SCPI PF Hospitalité Europe, which targets real estate assets in European cities in the managed accommodation sector. We pay particular attention to the quality of operators such as B&B Hotels, which thanks to its “Budget & Economy for business tourism” positioning has demonstrated its resilience during the health crisis,” Stéphane Collange, director of investments at Perial Asset Management told Patrimoine24.