Hotel Miguel Ángel Sold to Lopesan Group
Deal News | Nov 13, 2024 | Iberian Lawyer
The iconic Hotel Miguel Ángel in Madrid has been acquired by Lopesan Group, in partnership with Stoneweg Hospitality. This acquisition follows a refinancing agreement made in August 2024 and represents the largest single hotel acquisition in Spain, with a transaction value exceeding €800,000 per room. This marks a temporary exit of General Mediterranean Holding (GMH) from the Spanish hotel market. The hotel, an emblematic luxury establishment in Madrid since 1977, had been closed since the start of the COVID-19 pandemic. Squire Patton Boggs advised GMH on the transaction, while the buyer, Lopesan, was legally represented by A&O Shearman.
Sectors
- Hospitality and Tourism
- Real Estate
- Legal Services
Geography
- Spain – The transaction involves a prominent hotel in Madrid, Spain, which impacts the local hospitality market.
Industry
- Hospitality and Tourism – The article pertains to the acquisition of a luxury hotel, which falls within the hospitality sector.
- Real Estate – This transaction is a significant real estate deal involving the sale of a hotel property.
- Legal Services – The transaction involved legal advisory services from Squire Patton Boggs and A&O Shearman.
Financials
- 800,000 per room – The hotel acquisition value, marking Spain's largest single hotel purchase.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Hotel Miguel Ángel | Target Company | Company | A renowned luxury hotel in Madrid, Spain, since 1977. |
| General Mediterranean Holding (GMH) | Selling Company | Company | The previous owner of Hotel Miguel Ángel, managing properties across Europe and the Middle East. |
| Lopesan Group | Bidding Company | Company | The buyer, a notable hotel group acquiring Hotel Miguel Ángel. |
| Stoneweg Hospitality | Investor | Company | Partnering with Lopesan Group in acquiring Hotel Miguel Ángel. |
| Squire Patton Boggs | Legal Advisor to the Seller | Company | Advised GMH on the sale transaction. |
| A&O Shearman | Legal Advisor to the Buyer | Company | Provided legal advice to Lopesan Group during the acquisition. |
| Ramón Castilla | Partner in Real Estate at Squire Patton Boggs | Person | Led the advisory team on the transaction for GMH. |