Stoneweg, the real estate investment company, and Bain Capital, the global private equity firm, through their hotel real estate joint venture, have sold the Casa Lit Barcelona hotel to Grupo Hoteles Gargallo.
Financial details were not disclosed.
Situated in the centre of Barcelona just 400 metres from Las Ramblas, the 4* hotel was constructed in 2010 on the site of the former Colón theatres. It comprises 89 rooms.
Since taking over the management in 2022, Stoneweg Hospitality has delivered a successful renovation and introduced the Casa Lit brand (previously Acta Mimic hotel). The property has been managed by the Ona Hotels chain.
The acquisition of Casa Lit Barcelona by the Gargallo Hotels Group marks a significant expansion for the chain, reinforcing Gargallo's position in the competitive Barcelona market.
Miguel Casas, managing director of Stoneweg Hospitality, commented: 'We are very proud to have owned and managed Casa Lit Barcelona and to have contributed to its success.
'We have every confidence that the sale to Grupo Hoteles Gargallo, a dynamic and fast growing operator, will see a continuation of what is currently an exceptional guest experience in the economy segment, under a management committed to quality.'
Francisco Bello, operating partner, from Bain Capital added: 'This transaction is a testament to our focus on creating value through strategic investments in high-quality real estate assets. We are confident that Grupo Hoteles Gargallo will take the hotel to new heights.'
Xenia Gargallo Gay, managing director of Grupo Hotelero Gargallo, said: 'We are delighted to add Casa Lit Barcelona to our portfolio, bringing our total number of hotels in Barcelona to eleven and reinforcing our leadership in the iconic Ciutat Vella district of Barcelona.
'This hotel aligns perfectly with our vision of offering exceptional accommodations in key locations. We look forward to continuing its legacy of excellence and providing an unforgettable experience for our guests.'
The integration of Casa Lit Barcelona into the Grupo Hoteles Gargallo stable is scheduled for next month, with plans for its immediate incorporation into the chain's offerings and quality standards.
CBRE acted as intermediary on the sale, Cuatrecasas as legal advisor to Stoneweg Hospitality and Bain Capital, and Deloitte advised Gargallo Hotel Group.
