Aina Hospitality, through the Aina Investment Fund, has completed the acquisition of a 50 per cent equity stake in Breda Capital SL, which owns “The Grand Hotel Velazquez”, a 4-star hotel located in Madrid, Spain.
The Grand Hotel Velazquez is a 143-room, 4-star hotel, in the centre of Madrid’s most prestigious neighbourhood, surrounded by luxury shops and fine-dining, within walking distance to the Retiro park and other touristic attractions such as the Prado Museum, Puerta del Sol and Puerta de Alcala.
After its renovation, the hotel will offer 111 rooms and suites, a charming restaurant, a roof top bar, a cinema and bowling, a luxurious spa and a fitness centre.
Aina Hospitality says: “We are proud to acquire one of Madrid’s iconic hotels, located in the district of Salamanca, a much sought-after residential and commercial area of the capital.
“Aina co-invests in this project with Grupo Didra, a family office founded in 1945, with a long track record in hospitality management and real-estate developments.
“Based on our value creation strategy, we continue to invest in high quality assets. Madrid is a destination for cultural, historical and leisure interests and is an important tourism and economic hub. The hotel is in the centre of the city, next to some of the major tourist attractions and the historical centre.
“Aina, together with Didra, will reposition the hotel into a luxury 5-star, the hotel has just closed to begin an extensive refurbishment.”
Source: PropertyFundsWorld