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B&B Hotels sells its Ruby property to a French real estate fund

The french hotel chain strengthens its "Asset Light" business model and finalizes the sale of the Ruby Barcelona hotel to a French real estate fund. The group will operate the property on a guaranteed rental basis for at least 30 years.

Jorge Zelad Lucía Méndez-Bonito, Managing Director of B&B Spain and Portugal stated that the new owner is: "a privileged partner of B&B Hotels who has acquired the property and we hope to continue to grow together in other operations in Spain and Portugal, as these are two key markets for the development of the B&B Hotels."

Today B&B Hotels has 33 hotels open in Spain and 4 properties in Portugal, on long-term guaranteed rentals, a business model for which the group plans to ensure its development over the next few years, thus maintaining a positive growth rate.

"This operation is strategic for B&B Hotels in Spain and Portugal in order to maintain a strong growth rate in the future throughout the Iberian Peninsula. We currently have a large number of projects underway and we continue to look for opportunities to continue our sustained growth throughout the region with the aim of remaining the undisputed leader in budget hotels," he pointed.

The development strategy of B&B Hotels would be to increase their portfolio of hotels, under a long-term guaranteed rental model, and thus expand the group's new "Only for Everyone" business model.

"Guaranteed leases consolidate us as one of the most attractive and solvent hotel operators. Some of the best hotel real estate funds such as Corum Asset Management, ATOM SOCIMI, Covivio, Doalca SOCIMI or Azata have entrusted their best assets in Spain to B&B Hotels to operate them on a rental basis," he also announced.

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