Blackstone Real Estate Partners Europe V has agreed to acquire Hotel Investment Partners and its portfolio of 14 coastal resorts with more than 3,700 rooms around Spain. The seller was Banco Sabadell, and no sum was undisclosed.
Blackstone Real Estate Partners Europe V (“Blackstone”) announces that it has agreed to acquire Hotel Investment Partners (“HI Partners”), a leading Spanish hospitality company, from Banco Sabadell. HI Partners owns a portfolio of 14 primarily coastal hotels with over 3,700 rooms in Spain’s most popular tourism destinations.
Anthony Myers, Head of Real Estate Europe at Blackstone, said: “We are delighted to make another substantial investment in Spain and to have the opportunity to partner with the HI Partners management team, working with them to continue to execute their strategy of growing HI Partners into Spain’s premier hospitality business."
Alejandro Puértolas, Founding Partner & Chief Executive Officer of HI Partners, said: “We are thrilled to partner with Blackstone. Blackstone’s investment will allow us to maximise the value of our existing hotel portfolio for our investors and to focus on HI Partners’ continued growth across Spain. We thank Banco Sabadell for their support over the last two years, and look forward to taking the next step in HI Partners’ journey with an industry-leading and well-capitalised partner like Blackstone.”
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