Spain: Ennismore and ActivumSG’s Fund V have signed a long-term management agreement to operate a 490-room SLS hotel on Barcelona’s seafront.
The development marks the entry of SLS in Europe. The main structural work is set to be completed in the coming months with the hotel scheduled to open in the second half of 2024. It is located in Barcelona’s 22@ district.
SLS Barcelona will feature several F&B venues including rooftop dining, three swimming pools, a ballroom, spa and beauty salon, and a wellbeing and fitness centre.
Chadi Farhat, SLS brand chief operating officer, Ennismore, said: “Opening in Barcelona is a massive statement of our ambitions to grow the SLS brand in Europe. SLS Barcelona is in a great location that offers so much to guests. We’re excited at creating the ultimate luxury destination that guests will be torn to leave if they choose to explore the other delights of this great city.”
Saul Goldstein, founder and CEO of ActivumSG, said: “SLS Barcelona will be a distinctive glamorous lifestyle destination, supported by the powerful reach of the Ennismore and Accor’s distribution network. We couldn’t be happier to have SLS as our operating partner since it’s completely aligned with our vision to fill the gap in the lifestyle hotel market in this major European travel destination. It’s a fantastic result for our hotel strategy of creating great hotels in the best locations as the industry recovers from the pandemic.”
The project is an investment by ActivumSG’s fifth real estate fund as part of a pan-European hotel strategy that ActivumSG began in Spain in 2015. Initially the group targeted under-supplied segments of the market in major travel destinations, however the strategy has evolved to focus on Europe’s hospitality market that is best placed to recover from the pandemic.
Ennismore is a collective of 14 brands representing 92 operating properties across 26 countries with over 150 in the pipeline and over 150 restaurants and bars.
SLS has seven hotels in Beverly Hills, Miami, Bahamas, Cancun, and Dubai. The brand is set to open two additional properties in Puerto Madero, Argentina by May of 2022, and Scottsdale by 2023.