Spanish property group Metrovacesa has acquired two hotels for EUR 53 mln in Spain, one near Barcelona and the other in Fuerteventura. In a press release, Metrovacesa said the first hotel will provide 118 rooms when it opens February 2008.
Spanish property group Metrovacesa has acquired two hotels for EUR 53 mln in Spain, one near Barcelona and the other in Fuerteventura. In a press release, Metrovacesa said the first hotel will provide 118 rooms when it opens February 2008.
The second luxury hotel is located on the island of Fuerteventura and has 228 rooms, restaurants and a parking lot. Following the transactions, Metrovacesa will own 13 hotels in Spain and another four are currently being developed in Barcelona and Madrid.
In France, the group acquired four tourist complex through its French vehicle Gecina in 2005. Metrovacesa is one of the largest property developer in Spain and owns assets for EUR 15 bn. In 2006, the company envisaged a turnover of about EUR 1.1 bn.
