M&G Real Estate’s open-ended pan‑European fund has added a hotel in Spain to its portfolio.
The €4.8bn M&G European Property Fund has acquired the Travelodge Poblenou Hotel in Barcelona for €50m, marking the fund’s first dedicated hotel acquisition.
The 250‑room hotel, refurbished last year, is located in Poblenou and is operated by Travelodge Hoteles España under a long‑term lease.
Simon Ellis, fund manager of the M&G European Property Fund, said: “In a more uncertain global environment, we’re focused on assets that can deliver steady, dependable income over the long term. Hospitality plays an important supporting role in a diversified real estate portfolio, giving us exposure to sectors driven by tourism, business travel and city growth.
“When backed by strong fundamentals, long leases and solid sustainability credentials, assets like Travelodge Poblenou show how we can add resilience and diversify across both regions and asset classes.”
Federico Bros, director of investments and asset management for Iberia at M&G Real Estate, said: “Acquiring a rare, institutionally-leased hotel in one of Europe’s most supply‑constrained hospitality markets is a unique opportunity for our Iberian portfolio.
“Together with our recent living transactions in Spain, we now manage circa €1.2bn of assets across logistics, living, retail, office and hospitality in Iberia, reinforcing our diversified footprint across the region.”
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