Spanish fund manager Blasson Property Investments has submitted a bid for the 465-room, five-star Sofía hotel in Barcelona, owned by Canadian investor Brookfield.

Hotel Sofia

Hotel Sofia

Both parties are currently working on due diligence, and sources from the hotel sector put the sale price at around €232 mln, according to local reports.

Colliers is believed to be advising on the transaction. 

The hotel is managed by Selenta, which has a franchise agreement with US giant Hyatt, which provides the brand and sells the rooms through its marketing channels.

The Sofía hotel, one of the largest five-star hotels, is located on the Diagonal in the Catalan capital, next to the Spotify Camp Nou.

It was previously known as Princesa Sofia and Brookfield invested €60 mln in a major refurbishment before reopening it in 2018.

Brookfield closed the acquisition of the Selenta hotel portfolio last year for €440 mln. Besides the Sofia, it includes Don Carlos Resort & Spa in Marbella, the Mare Nostrum in Tenerife and the Expohotel in Barcelona.

In June, Brookfield bought the Princesa Plaza complex in Madrid for €175 mln.

Set up by three Spanish investors, Blasson made its first investment in 2021, when it bought Punta Negra, operated by the H10 chain, for €180 mln.