Business
Christie completes 2 landmark Spanish hotel deals
Christie completes 2 landmark Spanish hotel deals.
About this update from Christie Group Plc
[{"type":"text","content":"\n \n\n\n\n\n\nRNS Number : 1133B Christie Group PLC 14 February 2011 \n \n\n\n\n14th February 2011\n \n \nChristie Group plc\n \nChristie + Co completes two \nlandmark Spanish hotel deals\n \n \nChristie Group plc, (the \"Group\"), the leading provider of professional business services and stock & inventory systems & services to the leisure, retail and care markets, announces that Christie + Co, the Group's transaction and advisory practice, has completed the successful sale of two landmark Spanish hotels in two separate transactions, for a combined sum in the region of €65 million.\n \nChristie + Co sold the freehold of the 5-star, 304 bedroom Hilton Hotel Valencia, in Spain's third largest city, to Continental Property Investment, the Paris-based, investment company. It has also acted on behalf of Spanish hotel chain Set Hotels in the sale of the five-star hotel El Rompido Golf, on the west coast of Huelva, to Precise Hotels Collection, the Berlin-based hotels group.\n \nHotel El Rompido Golf is a stunning five-star, 184-bedroom hotel with 12 suites, based in the El Rompido Golf & Beach Resort, one of the most outstanding resorts in Costa de la Luz. The purchase of the Hotel El Rompido Golf marks Precise Hotel's debut in Spanish hotel market. \n \n \nChris Day, International Managing Director at Christie + Co, said: \n \n\"These are landmark transactions where we were able to generate significant interest from a range of buyers, including those investing in Spain for the first time. \n \n\"These deals highlight the strength of service that Christie + Co can provide to its clients through its pan-European network of offices. In the case of the Hilton Valencia, the deal entailed bringing together a Spanish-based hotel, a German bank and a buyer based in France.\n \n\"As trading performances continue to improve across Spain, the demand for such assets will continue to grow. It is of paramount importance that the marketing and transaction processes are cohesively managed to ensure successful completion of transactions where the opportunities present.\"\n \n\nEnquiries:\n \nDavid Rugg &n...