JLL advises ARD Investment and Development and Aina Hospitality on the sale of Bless Hotel Madrid
5-star 111-guestroom hotel on Calle Velazquez in Madrid sold
Madrid, 15 July 2021: JLL has advised ARD Investment and Development and Aina Hospitality on the sale of BLESS Hotel Madrid, a five-star grand luxury in the heart of the historic neighbourhood of Salamanca. The 111-guestroom hotel was acquired by RLH Properties, a hotel owner and developer listed on the Mexican Stock Exchange.
The hotel reopened its doors after an extensive 17-month renovation in January 2019 and has since been operated by Palladium who will continue to manage the property.
Ana Ivanovic, Hotels and Hospitality, JLL commented: “This transaction further demonstrates that core real estate in key gateway global markets still attracts investors' interest. With a strong base of domestic demand and increasing international appeal, Madrid remains one of the most coveted hotel markets in Europe.”
JLL’s Hotels & Hospitality Group is the industry leading advisor and over the last five years has completed transactions totaling $83 billion worldwide, and across EMEA, JLL advised on €13.4 billion of hotel sales over the same period. JLL’s hotel valuation, brokerage, asset management and consultancy services have helped more hotel investors, owners and operators achieve high returns on their assets than any other real estate advisor in the world.
JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $16.6 billion in 2020, operations in over 80 countries and a global workforce of more than 91,000 as of March 31, 2021. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.