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27 December 2017 | Hoteles

Christie & Co intervenes in the sale of Bal Hotel & SPA, property of Banco Sabadell

Christie & Co, the leading specialist hotel property advisor, has intervened in the sale of Bal Hotel & Spa, formerly owned by Banco Sabadell

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The 5-star Bal Hotel & Spa, has 45 fully equipped rooms (double, junior suite and suite), as well as 4 meeting rooms, restaurant, piano bar, a complete Spa of 450 sqm, gym, three paddle courts, parking and a large garden area for events. It is located in Asturias, just 10 minutes away from the centre of Gijón.

The asset has been acquired by Grupo Artiem who, from now on, will operate it directly. The Artiem group, original from Menorca, has a long history in the island and has recently started operating hotels also in the urban segment, incorporating the management of Artiem Madrid, a 4-star hotel with 83 rooms.

José Guillermo Díaz Montañés, CEO of the Artiem Group, underlines: "The characteristics of the asset and its location in Asturias, a region that fits perfectly into our value strategy, made the Bal Hotel Spa Business & Leisure the perfect candidate to join Artiem Fresh People Hotels, since our business philosophy is based on well-being, sustainability and people. The facilities and, above all, the human team that we incorporate into the Group allows us to start growing in the north of Spain, being faithful to this philosophy and to our management model".

Íñigo Cumella, Hotel Broker and responsible for the operation, notes: "it is a unique establishment in the area, both for the quality and the variety of its services and facilities. On the other hand, its environment and location (10 minutes by car from both the beach and the centre of the city of Gijón) make it very attractive for the leisure customer, but also for housing corporate meetings and events. This deal highlights once again the great investment interest in the hotel sector, where luxury assets such as the Bal Hotel & Spa continue to generate demand".

Inmaculada Ranera, Managing Director for Spain & Portugal adds: "This month of December is being especially intense in terms of closing transactions. Hopefully this is not the last announcement we make in that sense before the end of 2017".