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18 January 2022

BBVA advises El Corte Inglés and Palladium on the sale of five Ayre brand hotels to Eurazeo

BBVA has acted as financial advisor to El Corte Inglés and the Palladium Hotel Group in the sale of five Ayre brand hotels with a total of more than 800 rooms, located in Barcelona, Madrid, Cordoba and Oviedo, as well as a land plot in Porto (Portugal) to the French company Eurazeo.

 

This transaction is part of the strategy of El Corte Inglés and the Palladium Hotel Group,  which participate with a 50% stake each in the hotel sector since 2006 with the Only YOU Hotels and Ayre Hoteles brands, to strengthen its position in the high value-added hotel segment by developing new establishments in the Only YOU Hotels chain.

BBVA is a leading bank for companies in the hotel sector in Iberia and Latin America. In the mergers and acquisitions advisory business, the knowledge and experience of the teams at BBVA Corporate & Investment Banking together with the bank's international network allows it to reach a wide range of investors, and to carry out agile and competitive sales processes in order to maximise the price of its assets and the certainty of execution.

BBVA is the leading advisor for international investors when it comes to acquisitions in Iberia. In the last seven years BBVA has acted as advisor in transactions that have injected more than 20 billion euros of foreign capital into the region.