June 21, 2021

The Mexican group BK Partners announces the purchase of the Villa Magna hotel in Madrid at a record price | Economy

The Mexican group BK Partners announces the purchase of the Villa Magna hotel in Madrid at a record price | Economy

The Mexican investment group BK Partners announced Monday the acquisition of the Villa Magna hotel in Madrid for 210 million euros. The purchase, which will close this December, is one of the largest in the sector and is carried out through RLH Properties, the subsidiary of the group specializing in hotels. The transaction has already been communicated to the Mexican Stock Exchange, where RLH is listed.

The until now owner of Villa Magna, the holding company Turkish Dogus, paid for the establishment 180 million in 2016. The operation represented a record in cost per room, which was 1.2 million since the hotel has 150 rooms. The new offer means raising the price to 1.4 million. With the change of ownership, the hotel could once again be managed by one of the major international brands (Hyatt did so until 2008), according to Cinco Días.

In absolute terms, you have to go back more than a decade, before the bursting of the housing bubble, to find hotel purchases for a higher amount. It was the case of Arts Barcelona, ​​acquired by the sovereign fund of Singapore and partners by 417 million or the Westin Palace of Madrid, which bought Marriot and two partners for 385 million. In both cases, however, these are establishments that approach the 500 rooms.

BK Partners is a Mexican company that manages investments through several subsidiaries. The president a personal friend of the king emeritus Juan Carlos, the Mexican Allen Sanginés-Krause. Two other partners of the firm, the brothers Jerónimo and Juan Bremer, are also Mexicans and the fourth partner is the Spaniard Borja Escalada. One of the sectors in which they invest is the hotelier, and those operations are carried out through RLH Properties.

This company, which also has its headquarters in Mexico City, is dedicated to the acquisition and development of luxury hotel establishments. In his portfolio are the Four Seasons hotel in the Mexican capital and two developments on the coasts of that country. One of them, the resort Mayakoba in the Riviera Maya, was recently acquired from the Spanish group OHL.

"The acquisition of Hotel Villa Magna, one of the most representative of Europe in the luxury segment, also confirms our enormous confidence in the Spanish market, one of the most dynamic and attractive in the world," said the chairman of the executive committee of RLH , Jerónimo Bremer, in a note released by the company. The operation, which will involve the purchase of 100% of the shares, has been advised by Crédit Suisse, the JLL consultancy and the law firms Pérez-Llorca and Clifford Chance.


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