The Spanish hotel market continues to recover and Barcelona, leader in terms of hotel profitability among the main Spanish cities, remains one of the most sought cities for the purchase of hotel assets. It is in this environment that Christie & Co has closed a new deal in the city, the sale of Live & Dream, in the district of Sants.
The Live & Dream, located in a newly constructed building and opened in 2010, was managed by the property up to date. It is a modern establishment of 22 beds whose decoration has been carefully chosen. With comfortable facilities, it is located in one of the best communicated neighbourhoods of the city. The new owner, a private investor with extensive experience in the hotel sector, will also directly manage the establishment.
From Christie & Co, and in the words of Inmaculada Ranera, Managing Director for Spain & Portugal: "The difficulties that operators are encountering in Barcelona due to the changes in the urban regulations regarding hotel establishments, make operations like this one to generate a huge interest despite being a small asset”.
On the other hand, Íñigo Cumella, Hotel Broker of the firm, indicates "the market has reacted quickly and positively from the moment we started marketing this opportunity, which has allowed us to close the transaction in a very short time and with very attractive economic conditions”.