The Olayan Group has bought the Mandarin Oriental Hotel, Barcelona from Farallon and Reig Capital.
The luxury hotel is situated on Passeig de Gràcia, a shopping avenue in the heart of Barcelona’s city centre. The five-star, 120 key hotel features a spa, a rooftop pool with city views, and an indoor pool.
JLL’s Hotels and Hospitality team represented Reig Capital Group.
What they said
Patrick Saade, senior managing director of EMEA Hotels & Hospitality Capital Markets at JLL, said: “The Mandarin Oriental Barcelona is one of the most luxurious assets in the city, benefiting from an immaculate location and an outstanding brand. Investor appetite for the asset has been plentiful despite the challenging capital market environment. Investors have taken notice as luxury hotels have become an increasingly institutional investment and changing consumer preferences give rise to new investment opportunities. Hospitality is in the spotlight for investors looking to deploy capital in our ever-evolving real estate asset class.”