Servihabitat and Gramina Homes (Lone Star) sold the Abba Granada Hotel located in Spain in the city of Granada to a national private investor for a transaction exceeding 9 million euros.
The 4-star Abba Granada Hotel is an hotel located in the center of Granada, next to the Fuente Nueva Park and the University of Granada. The historic district of the Albaicín and Granada's cathedral are about 1 kilometer away.
The hotel, which belongs to the international chain Abba Hotels, has 136 rooms, an Abba Mia restaurant serving Mediterranean and local dishes, a reception area, an outdoor swimming pool, a gym, and a spa with Turkish bath, Jacuzzi and saunas.
The real estate consulting firm Catella accompanied Servihabitat and Gramina Homes in the sale of the property. Carlos López, Catella's partner, and Javier Bravo, Catella's hotel manager, said :
“Despite the global uncertainty that we are currently experiencing due to the Covid-19 crisis, the Spanish real estate sector continues to attract the appetite of national and international investors. This type of operation reflects the continuous movement in the market of hotel transactions in our country.”
The tourism industry in the city of Granada has grown considerably in recent years, with 82 hotels and more than 6,500 rooms.
Moreover, the midscale segment is the majority with 44% of the city's hotel offer, followed by the economic segment representing 35% of the properties.