The Gargallo Hotel Group has expanded its presence in Barcelona, Spain, with the acquisition of the Casa Lit Barcelona hotel from a joint venture between Stoneweg and Bain Capital for an undisclosed amount.
This deal was facilitated by CBRE as the intermediary.
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The four-star hotel, located at a short distance from Las Ramblas and occupying the site of the former Colón theatres, was built in 2010. It became part of Stoneweg Hospitality’s management portfolio in 2022.
Stoneweg Hospitality managing director Miguel Casas said: “We are very proud to have owned and managed Casa Lit Barcelona and to have contributed to its success.
“We have every confidence that the sale to Grupo Hoteles Gargallo will see a continuation of what is currently an exceptional guest experience in the economy segment, under a management committed to quality.”
This hotel features 89 rooms, a bar, a restaurant, and a rooftop terrace with a swimming pool.
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By GlobalDataThe integration of Casa Lit Barcelona into the Gargallo portfolio is planned for the coming month, with the hotel expected to be immediately incorporated into the chain’s offerings.
Gargallo Hotel Group’s Barcelona collection now includes 11 hotels. The group also operates properties in Teruel, Huesca, and Reus.
Grupo Hotelero Gargallo managing director Xenia Gargallo Gay said: “We are delighted to add Casa Lit Barcelona to our portfolio, bringing our total number of hotels in Barcelona to 11 and reinforcing our leadership in the iconic Ciutat Vella district of Barcelona.
“This hotel aligns perfectly with our vision of offering exceptional accommodations in key locations. We look forward to continuing its legacy of excellence and providing an unforgettable experience for our guests.”
For this transaction, Cuatrecasas offered legal advice to Stoneweg Hospitality and Bain Capital, while Deloitte offered advice to the Gargallo Hotel Group.
Last year, Stoneweg Hospitality acquired two hotels in Spain from Globalia Business in a €83m ($90m) transaction.
These properties comprise La Niña and Palace de Muro.
