Barceló partners for European expansion
Spain’s Barceló Hotel Group has set up a joint venture with German investment firm KanAm Grund Group to boost expansion of upscale hotels across Western and Northern Europe, taking advantage of adjusted property values across the continent.
The partners will target change of operator and/or refurbishment capex opportunities, up to a full redevelopment strategy, including conversion from office to hotel. They will focus on Germany, Austria, Switzerland, France, the Benelux region, the United Kingdom, Ireland, the Nordic countries, and Italy. Both companies confirmed that they will prioritize projects with high potential returns in major urban centers and popular leisure destinations across Europe.
Barceló, which has a goal to add about 20 hotels a year, will manage the properties under long-term lease agreements.
“Our goal is to continue growing in markets where we already have a presence while reinforcing our brand in new destinations with strong demand,” said Barceló CEO for EMEA Raúl González.
Barceló currently operates around 130 hotels across 16 European countries, including properties in Spain, Italy, Portugal, Germany, Hungary, Poland, Malta, Bulgaria, Slovenia, and the Czech Republic. Globally, it has more than 300 hotels and 66,000 rooms across 30 countries.
Family-owned Barceló expects to close 2025 with about €300 million in profits and €500 million in acquisitions and asset repositioning.
By Jeffrey Weinstein