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2019-09-24 10:57 CET, Spain | Corporate Finance | Press release

Sale of the Tryp Zaragoza hotel

The hotel has 162 rooms and 52 parking spaces

The Colliers International Hotels Division has advised an international investment fund in the sale of the Tryp Zaragoza hotel to the Fagra Group, a Spanish private investor advised by the Real Estate consultancy Catella. The amount of the operation, which includes a local of more than 2,000sqm leased to Mercadona, has not transcended.

Until now, the Tryp Zaragoza hotel has been operated by Meliá under the Tryp by Wyndham brand since its inauguration in 2007. The 4 stars hotel has 162 rooms and 52 parking spaces. The new property - the Fagra Group - has assumed the independent management of the hotel, which is one of the benchmarks of business tourism and the MICE segment in the city of Zaragoza and that will operate, as of now, under the trade name AVE Zentral Saragossa.

This transaction “confirms the enormous liquidity of the hotel sector in Spain, in which we see more and more transactions in secondary cities and greater interest of the Spanish private investor.” – says Laura Hernando, Managing Director Hotels of Colliers International. According to Javier Bravo, responsible for the Catella Hotels division, “Due to the compression of yields, cities like Zaragoza have been in the spotlight of investors, since they offer more attractive returns. In fact, Zaragoza has been the protagonist of several hotel transactions this year, confirming the growing investment interest beyond Madrid and Barcelona.”

 Contact:

Javier Bravo

Capital Markets

+34 91 411 74 96

javier.bravo@catella.es

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