(Hospitality Business News) January 28, 2010 --- Acting as exclusive advisors to Eurohypo, and on behalf of Administrators, Christie + Co has sold the freehold of the 5-Star, 304-bedroom Hilton Hotel Valencia in Spain’s third largest city, to Continental Property Investment (CPI), the Paris-based, investment company, for an undisclosed sum.
This stylish, contemporary hotel, which was built in 2007 for a reported cost of €110 million, is the tallest building in Valencia and offers panoramic views over the city.
Situated next to Valencia's Congress Hall and only a 10-minute drive from Valencia International Airport, the hotel boasts some of the finest facilities in the city, with two high class restaurants and a luxury bar. The business also features a luxury spa and health club, which includes an indoor relaxation pool, gym and spa pool.
The hotel is well-equipped for business meetings, conferences and events, with 16 designated rooms of different sizes offering flexible working spaces that can hold up to 170 guests, plus Valencia’s largest ballroom, which can hold up to 800 guests.
CPI, which is led by Boutros El Khoury, has signed up Sol Meliá Hotels and Resorts, the world’s largest resort hotel company and the largest hotel chain in Spain, to operate the hotel under a management agreement.
Chris Day, International Managing Director at Christie + Co, said: “This is a landmark transaction where we were able to generate significant interest from a range of buyers. This deal also highlights the advantages and the service to clients Christie + Co can provide through its pan-European network of offices — in this case bringing together a Spanish-based hotel, a German bank and a buyer based in France.
“As trading performances continue to improve across Spain the demand for such assets will continue to grow and by channelling this interest through a proper sales process successful outcomes such as this can be achieved.”
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