Livingstone’s Consumer sector team has advised, alongside Irea Asesores, Guitart Hotels, a Spanish Hotel Chain, in the sale of the group’s 5 stars Hotel Monterrey to an international investment fund focused on the management of corporate investments. Both the name of the acquirer and terms of the deal were not disclosed.
The sale of the Guitart luxury Hotel Monterrey is part of the group’s strategy to focus on family tourism as well as on the development of products based on specific tourism segments such as sport, health and wellness, and business.
Headquartered in the Mediterranean coastal Spanish town of Lloret de Mar, Guitart Hotels is a hotel chain with over 60 years of history and 8 properties located in various sites of the Catalonia region. Hotel Monterrey was acquired by the Guitart family in 2004 and it is currently the sole 5 stars coastal hotel in an area that extends from Lloret de Mar to Marseille (France).
The hotel chain comprises 8 properties, 3 of which are 4 stars hotels. Guitart Hotels’ growth plan includes the strategic realignment of the other five three stars hotel establishments improving service quality in order to upgrade to a higher rating.
Cristina Cabañas, CEO of Guitart Hotels, commented: “The Livingstone team made easy work of something which for us was quite difficult”.
Neil Collen, Partner of Livingstone, said: “We are delighted to have worked with Cristina and help the shareholders sell the Monterrey Hotel. This transaction will help the hotel chain focus on specific segments and contribute to reach the next stage of the company’s development”.