Barcelo Hotels and Resorts has purchased the Midas Hotel in Rome from Alpine Capital and plans to commence a repositioning programme.
Located on Via Auralia, the 4-star hotel comprises 350 rooms, a convention centre with 17 meeting rooms, a fitness centre, swimming pools and restaurants.
Barcelo says it plans to invest €60 million in the acquisition and repositioning of the hotel in order to turn it to one of the best hotels for events and conferences in the city. Following the renovation programme, the hotel will be marketed under the Barcelo brand.
This comes as the Spanish company recently unveiled a plan to invest $400 million to aid its expansion in its Middle East, Africa and Türkiye (MEAT) region. It said it plans to grow its presence through the acquisition of new hotels, the refurbishment of existing properties as well as through repositioning projects.