Monthisa, owned by the Montoro family, has sold the 58-room Radisson Blu Hotel, Madrid Prado for €26 million, according to Spanish publication Expansión.
Located on Calle Moratín, the hotel comprises 3,796 square meters over five floors. In addition to the rooms, it also has a restaurant, a spa and an indoor pool.
Radisson will continue to manage the asset.
The transaction comes after a successful 2022 for the hotel market in Madrid. The city registered a record investment of €803 million last year, making up around 24 per cent of national investment and beating Barcelona’s €223 million.