Meridia Expands its Select-Service Hotel Platform with a New Hotel in Madrid

Meridia has completed the acquisition of the Ibis Alcorcón Tresaguas, a 157-room hotel located in Madrid's metropolitan area from Essendi. The investment is part of the Fund Meridia V and marks another step in the firm's strategy of building a leading select-service hotel platform in Spain. 

With this acquisition, Meridia's select-service hotel portfolio in Madrid now comprises 543 rooms across three complementary assets, strategically positioned to serve the city centre, the airport and the metropolitan area. The platform combines geographic diversification with operational scale, providing a strong foundation for future growth in the segment. 

Located next to the Tresaguas shopping centre and benefiting from excellent road and public transport connections, the hotel serves a diversified mix of business and leisure travelers.  

Meridia will undertake a comprehensive refurbishment programme to modernise guestrooms and common areas, enhance the guest experience, and improve the asset's sustainability performance. The project reflects the firm's value-add investment strategy, combining active asset management, operational improvements, and ESG initiatives to create long-term value. 

The property will continue operating under the Ibis brand through a franchise agreement with Accor, while Continuum Hospitality Group will manage the hotel. 

Victor Iborra, Real Estate Partner at Meridia, said: "This acquisition reflects Meridia's conviction in Spain's select-service hospitality segment, where favourable long-term tourism fundamentals, a structural supply gap and still limited institutional ownership continue to create an attractive investment environment. The segment's resilient demand profile and operationally efficient business model provide a compelling foundation for long-term value creation.” 

Jean-François Mabrut and Eduardo Irigoras Olabarria, founding partners at Continuum Hospitality Group, added: “We are proud to enrich our asset management collaboration with Meridia through this strategic value-add project in Alcorcón. Following the success of our previous Hotel Management Agreements repositioning and rebranding two hotels in Spain with Meridia, this fifth asset in Madrid represents another important milestone for our hotel management portfolio in the region.” 

Uría Menéndez, Ernst & Young and Savills acted as advisors to Meridia in this transaction. 

Cushman & Wakefield acted as advisor to the seller in this transaction.