Canary Islands-based hotel company Lopesan Hotel Group has entered the Madrid market by acquiring Hotel Miguel Angel on Paseo de la Castellana.
The acquisition, carried out in partnership with investment firm Stoneweg Hospitality, marks Lopesan's second foray into the urban tourism segment, following the acquisition of the AC Hotel Iberia in Las Palmas de Gran Canaria earlier this year, and will see the iconic hotel undergo a comprehensive renovation.
Financial details were not disclosed.
The acquisition from General Mediterranean Holding marks a strategic move for Lopesan, allowing it to expand its portfolio to 22 owned and managed hotels across five countries. The hotel will benefit from Lopesan's operating expertise, while its architectural and decorative concept will be revitalized.
The renovation of Hotel Miguel Angel, which features 241 rooms, will aim to create a luxurious experience for guests, transforming it into a new attraction in Madrid. The focus will be on exclusive gastronomic offerings and services.
Stoneweg Hospitality joins as a key operational partner, reflecting its strategy of acquiring high-value properties in prime tourist destinations. The partnership with Lopesan will modernize the historic building, creating a unique concept that combines leisure and work offerings. This, combined with a focus on personalized experiences, technology, and sustainability, is expected to deliver superior long-term returns.
Squire Patton Boggs and A&O Shearman advised the seller and the buyer, respectively.
