Friday, 30 May 2014 10:02

 

Barcelona has become the third most popular destination for international funds investing in hotels, trailing only London and Paris.

 

 

 

According to a recent announcement, the Qatar Armed Forces Investment Portfolio (QAFIP) has acquired the Renaissance hotel from the Marriott hotel chain. The final purchase price was 78.5 million euros Management of the hotel will remain with the previous owners, Marriott.

The Qatari Armed Forces Investment Portfolio's representative, General Zani al Kuwari, who is also assistant chief of staff for financial affairs, said: “Our objective is to invest in the most important cities, and Barcelona is one of them. We are also looking for interests in London and Paris.” He added that they were interested in making further investments in Barcelona.

According to the Mariott group, Barcelona has room for more five-star hotels and they haven’t discarded the possibility of operating hotels in the city under their own brand. Marriot says that all the big international chains want to be in Barcelona because the large events the city attracts require many rooms and quality services.

The acquisition of the Renaissance has come about at a time of much activity in Barcelona’s hotel and real estate market, given the fact that large international chains are highly interested in the Catalan capital for its tourist potential. Among other groups, the first of the big chains to come to Barcelona will be Hyatt, which has purchased the Agbar tower through the Emin Capital fund.
Foreign tourism (83% of all visitors), which combines business and pleasure above holiday tourism, lends stability and safety to these investment projects.

Opened in April 2012 following a major renovation, the Renaissance Barcelona Hotel is located in Barcelona’s vibrant Eixample District and close to some of the city’s most extraordinary cultural attractions including two of Gaudi’s architectural masterpieces: La Sagrada Familia and La Pedrera.