Meridia sells two premier hotels in Barcelona and Málaga following a value-add repositioning
Meridia has completed the sale of a portfolio of two hotels, Hotel Gallery in Barcelona and Hotel Molina Lario in Málaga, to Catalonia Hotels & Resorts.
The assets were acquired off market in 2023 through Meridia V, comprise a total of 213 roomsn and are strategically located in two of Spain’s most dynamic urban hospitality markets, benefiting from prime central locations and strong tourist demand.
Since acquisition, Meridia has successfully executed an active value creation strategy combining a smart capex programme and asset management. The hotels were repositioned into the upper 4-star segment while maintaining high ESG standards.
In addition to upgrading the assets, Meridia leveraged its hospitality expertise by operating the hotels internally, allowing for a high degree of flexibility throughout the investment period. This operational control led both hotels to reach historic performance levels, strengthening their competitive positioning and long-term resilience. This approach allowed Meridia to
capture full value of the assets in a short period of time.
Víctor Iborra, Real Estate Partner at Meridia, commented: “We are very pleased with this transaction and with the roadmap followed since the acquisition of the assets. The successful repositioning of these hotels demonstrates our ability to identify high-quality opportunities and actively manage them throughout the investment cycle. This transaction further capitalises on our hospitality expertise and our flexible approach to each asset, enabling us to maximize value and deliver strong returns to our investors.” He added: “These successful disposals are a clear example of the continued liquidity in Spain’s hospitality sector. These assets represent the first divestments of Meridia V, which conducted its first close in 2023.”
Garrigues and Cuatrecasas acted as advisors to Meridia in this transaction.
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