Aquila Capital has sold the Room Mate Alba Hotel in Madrid to a private investor for €32.5 mln.
The four-star property, situated in the city's vibrant Barrio de Las Letras district on Calle Huertas, boasts 80 double rooms, a breakfast bar, a meeting room, and a fitness center.
Originally opened in 2019 following a renovation overseen by renowned interior designer Lorenzo Castillo, the hotel has become a popular destination.
Under the terms of the agreement, Room Mate, now part of the Angelo Gordon fund, will continue to operate the hotel, maintaining its presence in the Madrid market with a total of five properties.
Víctor López-Peña, head of Capital Markets – Hospitality at Cushman & Wakefield Spain, said: ‘It is an operation that shows that the Hotel-Madrid combination is a safe haven for investors, whether national, international, or from other asset classes. We attract a lot of capital in all destinations, with the solidity of the sector being a guarantee and Spain's brand.’
Cushman & Wakefiled Spain advised the buyer on the sale.
Spain's hotel sector attracted €1.55 bn of investment during the first half of 2024. Industry experts predict a similarly active second half, potentially surpassing the record-breaking €4.2 bn investment achieved in the previous year, according to forecasts of the real estate consultancy.
