RLH Properties Acquires the Hotel Villa Magna in Madrid for €210 Million ($237 Million U.S) From the Do?u? Group

Spain, Madrid. December 05, 2018

The investment company RLH Properties (BMV: RLHA), founded by BK Partners, today announced the acquisition of Hotel Villa Magna, an emblematic luxury hotel located in the center of Madrid, for €210 million from the Do?u? Group.

The deal is scheduled to close in mid-December and reinforces the business model of RLH Properties, an international property company listed on the Mexican Stock Exchange (BMV) focused on ownership of branded hotel and residential assets, in the luxury segment.

According to Jerónimo Bremer, President of the Executive Committee of RLH, and founding partner of BK Partners, "This operation represents an important milestone in our strategy of investing in unique real estate assets for the hotel sector. 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. " 

As stated by Borja Escalada CEO of RLH Properties and partner of BK Partners, "The purchase of Hotel Villa Magna is the first step in our international expansion, with an emblematic luxury hotel located in the best area of Madrid. This, together with our proven experience in the management of this type of real estate assets, has great potential to create shareholder value. Therefore, we believe that this transaction is excellent news for our investors and shareholders and we hope to be able to announce new investments in Spain and Europe soon." 

RLH Properties enters into the Spanish market

The Villa Magna hotel, founded in the 1970's on the Paseo de la Castellana in Madrid, was born to compete as a modern establishment compared to other hotel offers and to lead the luxury segment. Historically it was managed by Hyatt. It was completely remodeled in 2009.

RLH Properties is currently the owner, among other assets, of the Four Seasons Hotel in Mexico City, the Rosewood Mayakoba Hotel, Banyan Tree Mayakoba, Andaz Mayakoba, Fairmont Mayakoba, the PGA El Camaleón golf course and the Mandarina Development, which includes the Hotel One & Only Mandarina, currently under construction, Hotel Rosewood Mandarina, in development, along with residential developments.

On the buyer's side, Credit Suisse has acted as the financial advisor, and Perez-Llorca, as the legal advisor; and on the side of the seller, JLL, as the real estate investment adviser, and Clifford Chance, as the legal advisor.

Related News

Choose a Social Network!

The social network you are looking for is not available.

Coming up in March 2019...

Human Resources: An Era of Transition

Traditionally, the human resource department administers five key areas within a hotel operation - compliance, compensation and benefits, organizational dynamics, selection and retention, and training and development. However, HR professionals are also presently involved in culture-building activities, as well as implementing new employee on-boarding practices and engagement initiatives. As a result, HR professionals have been elevated to senior leadership status, creating value and profit within their organization. Still, they continue to face some intractable issues, including a shrinking talent pool and the need to recruit top-notch employees who are empowered to provide outstanding customer service. In order to attract top-tier talent, one option is to take advantage of recruitment opportunities offered through colleges and universities, especially if they have a hospitality major. This pool of prospective employees is likely to be better educated and more enthusiastic than walk-in hires. Also, once hired, there could be additional training and development opportunities that stem from an association with a college or university. Continuing education courses, business conferences, seminars and online instruction - all can be a valuable source of employee development opportunities. In addition to meeting recruitment demands in the present, HR professionals must also be forward-thinking, anticipating the skills that will be needed in the future to meet guest expectations. One such skill that is becoming increasingly valued is “resilience”, the ability to “go with the flow” and not become overwhelmed by the disruptive influences  of change and reinvention. In an era of transition—new technologies, expanding markets, consolidation of brands and businesses, and modifications in people's values and lifestyles - the capacity to remain flexible, nimble and resilient is a valuable skill to possess. The March Hotel Business Review will examine some of the strategies that HR professionals are employing to ensure that their hotel operations continue to thrive.