Real estate private equity firm Gaw Capital Partners today announced that the firm, through its European Hospitality Fund I managed by GCP Hospitality, acquired a 50% stake in Spain's leading boutique hotel brand, Hospes Hotel Group, of which its total asset is valued at EUR125 million, forming a joint venture with a Spanish investment company, Omega Capital.
Hospes Hotel Group is a highly respected brand in Spain with 10 properties. The group is recognized as a highly acclaimed brand and operator within the luxury and heritage boutique hotel segment.
Each hotel has been crafted in an artisan fashion, combining elements of heritage, design, local textures and technology together.
Hospes' luxury boutique hotels are situated in various prime locations across Spain, including Madrid, Alicante, Granada, Valencia, Mallorca, Cordoba, Seville, Caceres and Salamanca. The properties are in close proximity to some of Spain's most prominent historical sites, each designed by respected and renowned architects to create their own unique atmosphere and style. Their facilities, including bars and restaurants, wellness centers and spas, have received 5-star ratings.
Goodwin Gaw, Chairman and Managing Principal of Gaw Capital Partners, said, "We are delighted to form a joint venture with Omega Capital through our European Hospitality Fund I managed by GCP Hospitality to acquire a 50% stake in Hospes Hotel Group. Entering the Spanish market with one of Spain's most distinguished entrepreneurs marks an important milestone for Gaw Capital Partners and its hospitality platform, GCP Hospitality, as we look to expand our presence in Europe and tap the abundant opportunities in one of the world's most popular tourism markets. We will further expand the Hospes brand by opening more properties in tourist areas and strategic cities within Spain and Southern Europe."
Christophe Vielle, CEO & Co-Founder of GCP Hospitality, said, "We are thrilled to expand our hotel portfolio to Europe. The acquisition of Hospes Hotel Group is a testament to GCP Hospitality's strong track record of successfully launching and operating top-of-the-range hotels and hospitality brands. With a very positive outlook for the continent's tourism industry, we are actively exploring ways to expand our portfolio in Europe. We will leverage the reputation of Hospes Hotel Group as well as our international network to increase the brand's footprint."