JLL advises on the sale of the Mandarin Oriental Hotel, Barcelona

LONDON, July 3, 2023 – JLL’s Hotels and Hospitality team represented Reig Capital Group in the sale of Mandarin Oriental Hotel, Barcelona to The Olayan Group.

The luxury hotel is situated on the prestigious Passeig de Gràcia, an exclusive shopping avenue in the heart of Barcelona’s city centre. The luxurious 5-star, 120 key hotel features a spa, a rooftop pool with spectacular city views, and an indoor pool. Each room and suite has been uniquely designed by renowned interior designer Patricia Urquiola.

Since its opening in 2010, the hotel has achieved exceptional success, solidifying its status as a premier destination in the city and an iconic hotel in Spain. Barcelona continues to show strong performance having recorded an 11% ADR recovery in 2022 (vs. FY 2019), (source: STR).

Patrick Saade, Senior Managing Director of EMEA Hotels & Hospitality Capital Markets at JLL, said, “The Mandarin Oriental Barcelona is one of the most luxurious assets in the city, benefiting from an immaculate location and an outstanding brand. Investor appetite for the asset has been plentiful despite the challenging capital market environment. Investors have taken notice as luxury hotels have become an increasingly institutional investment and changing consumer preferences give rise to new investment opportunities. Hospitality is in the spotlight for investors looking to deploy capital in our ever-evolving real estate asset class.”