The Vincci Seleccion Posada del Patio hotel in Malaga acquired by Invesco

The investment group Invesco Real Estate has purchased the five-star Vincci Seleccion Posada del Patio hotel in Malaga.

As reported this Thursday, June 23, the Invesco Real Estate investment group, owned by Invesco, has purchased the Vincci Selección Posada del Patio hotel in Malaga. The purchase is part of the acquisition of three hotels, according to malagahoy.es.

More specifically, these are the Holiday Inns Express in The Hague in the Netherlands, and Hotel Occidental 1929 Barcelona, as well as the plant in Malaga. The amount of the purchase has not been disclosed, although it is estimated that the three hotels are valued at around 100 million euros.

The Vincci Posada del Patio was the first five-star hotel to open in Malaga and is now one of the small group of establishments of this category in the city. It was recently joined by Miramar, Only You and Soho Boutique Castillo de Santa Catalina.

“The acquisitions in Spain represent an opportunity to acquire prime assets centrally located in two of the most dynamic markets in the country. Invesco believes that the new limited supply in Barcelona should enable a faster market recovery compared to other locations,” explained a spokesperson for the investment group.

They added; “In Malaga, demand has consistently exceeded supply since 2014, and the city has been at the forefront of Spain’s tourism recovery in 2021.”

David Kellett, CEO of Hotel Operations at Invesco, said: “We have seen a strong recovery in European travel post-Covid and we believe this momentum will continue in 2022 and beyond, so we are looking forward to seeing further opportunities. convincing purchases”.

“These latest acquisitions in the Netherlands and Spain represent the best of European hospitality and we are fully confident to make further investments with the aim of continuing to create value. Our intention is to create investments that can provide compounded, above-market, long-term growth for the benefit of our investors,” added Chris Brassington, Senior Fund Management Advisor at Invesco.

According to the company, Invesco Real Estate is a global leader in real estate investment management, with $92 trillion in real estate assets under management, comprising 582 employees and 21 regional offices in the United States, Europe and Asia.

In the specific case of Europe, it has eight offices in London, Munich, Milan, Madrid, Paris, Prague, Luxembourg and Warsaw, with 173 employees, and manages 178 assets in 14 European countries for a value of 15,000 million of dollars.

“Invesco Real Estate has been actively investing across the full spectrum of risk and return, in conventional direct, debt, value-added and opportunistic real estate strategies, and listed real estate securities since 1992,” they explained.

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