Econostrum | Economic News in the Mediterranean

Perial Asset Management invests in nine B&B hotels in Spain

Written by Eric Apim on Thursday, January 6th 2022 à 08:50 | Read 759 times

The Fuenlabrada Hotel (Madrid) is one of the assets acquired by Perial (photo: B&B)
The Fuenlabrada Hotel (Madrid) is one of the assets acquired by Perial (photo: B&B)
SPAIN / FRANCE. French group Perial Asset Management (€5bn under management at 30 September 2021) announced on Wednesday 5 January 2022 that it had acquired a portfolio of nine Spanish hotel assets*, including five in Catalonia. Managed by the operator B&B Hotels, they benefit from a lease with a residual firm term of eleven years.

This purchase is being carried out on behalf of the SCPI PF Hospitalité Europe, which specialises in hospitality and accommodation. It will be carried out in two stages. The first five properties were acquired on 17 December 2021 for €25 million and the remaining four will be acquired in May 2022 (€33.4 million).

Located in Spanish cities and coastal towns in prime locations, these hotels each have around 100 rooms except for one unit with two hundred and sixteen rooms, the one in Viladecans (Barcelona). "This transaction is fully in line with the strategy of our SCPI PF Hospitalité Europe, which targets real estate assets in European cities in the managed accommodation sector. We pay particular attention to the quality of operators such as B&B Hotels, which thanks to its 'Budget & Economy' positioning for business tourism has demonstrated its resilience during the health crisis", comments Stéphane Collange, Investment Director at Perial Asset Management.

24% of hotels managed in the portfolio of the SCPI PH Hospitalité Europe

The portfolio of the PF Hospitalité Europe SCPI (€700m under management) is currently (as at 30 September 2021) made up of 55% healthcare establishments, 24% hotels and 21% managed residences.

Created in 1990 with two initial hotels in Brest and then Saint-Malo, B&B Hotel (600 hotels in fourteen countries, all in Europe except Brazil) has been majority-owned by the investment company Goldman Sachs since 2019.

* Figueres, Mollet de Valles, Viladecans, Granollers Lesfrancqs, Salt (Catalonia), Fuenlabrada (Madrid), Albacete (Castilla-La Mancha), Cartagena (Murcia), Paterna (Valencia)


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