Investment firm Azora has acquired Spanish hotel operator Medplaya Hotels for an unspecified amount.
The manager, investing via its Azora European Hotel & Lodging (AEHL) fund, has acquired the firm that owns a portfolio of six hotels with a combined total of over 1,500 rooms across the Costa del Sol and Catalonia. The deal also includes Medplaya’s operational businesses.
Founded in 1967, Medplaya operates 15 hotels with around 4,000 rooms, including seven previously acquired by Azora in 2019, across the Costa del Sol, Costa Brava, Costa Dorada and Costa de Barcelona.
The acquisition strengthens Azora’s AEHL fund, boosting the total number of hotels under its control to 54. It also allows Azora to consolidate its Spanish hotel platform, bringing its total owned assets in that market to 13.
Javier Arús and Gonzalo García-Lago, partners in charge of hotels at Azora, said: “The acquisition of Medplaya not only strengthens our hotel portfolio across Spain, but also reaffirms our conviction in the growth potential of the European and Spanish tourism markets and Medplaya, as a valued partner since 2019 with its strong management team.
“Expanding our in-house managed, diversified hotel portfolio in Spain aligns with our broader investment strategy and builds upon our managed platforms across other European markets, including Latroupe and BluSerena in Italy, and Donkey Hotels in Greece, reinforcing our position as a leading investor in the European hotel and leisure sector.”
Agustí Codina, who will continue as CEO and chairman of Medplaya, said: “Since 2019, we have enjoyed a long-standing partnership with Azora, whose confidence in us positions them as the ideal partner to continuing driving Medplaya’s growth across Spain.
“Recognised as a leading hotel management platform in Spain, we are entering a consolidation phase with ambitious plans to expand through new assets from Azora and third-party owners. Simultaneously, we are committed to continuity - keeping our Girona offices and the approach that has brought us success.”
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