CBRE Hotels Advise on Sale of Hotel Portfolio in Spain

CBRE Hotels has completed on the sale of six hotels across Spain on behalf of Melia Hotels International to US based Starwood Capital Group for €176 million

​London – 27th February 2015 – CBRE Hotels has completed on the sale of six hotels across Spain on behalf of Melia Hotels International to US based Starwood Capital Group for €176 million.

The hotels, branded under Melia´s Sol brand, are located in popular consolidated Spanish tourist destinations such as Ibiza, Mallorca, the Costa del Sol and the Canaries Islands. The hotels add almost 3,000 keys and include the Sol Lanzarote and the Melia Gorriones in the Canaries, the Sol Ibiza and Sol Pinet Playa in Ibiza, the Sol Mirlos Tordos in Mallorca and the Sol Principe in Torremolinos. The transaction is part of a joint venture agreement between the two groups that will help re-launch the Sol brand in Spain and develop it across other international destinations. Melia will continue to manage the hotels under a management agreement.

Jorge Ruiz, Head of CBRE Hotels Spain, commented: “We are delighted with the sale of this hotel leisure portfolio to Starwood Capital. The JV agreement between both parties reflects the extraordinary performance of the main Spanish tourist destinations. This transaction also proofs that the Spanish hotel market continues to be one of the most attractive hotel investment targets as Spain is the 3rd top world tourist destination.”

This transaction confirms the strong interest from big international funds in having a presence in the Spanish hotel market, and the and the joint venture deal to re-launch the brand Sol confirms the investment market´s interest in Melia and represents a unique opportunity for growth for both parties, both domestically and internationally.


About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (in terms of 2014 revenue). The Company has more than 52,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 370 offices (excluding affiliates) worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. Please visit our website at www.cbre.com ​​​​