Spain: Hong Kong-based Gaw Capital Partners has acquired a 50 per cent stake in Hospes Hotel Group, a Spanish boutique hotel brand.
Gaw has formed a joint venture with investment firm Omega Capital to buy the hotel operator’s €125 million assets, marking its first move in to the European hospitality market.
Hospes operates 10 properties located across Spain.
The asset will be held in Gaw’s European Hospitality Fund I managed by GCP Hospitality, the hotel subsidiary of the real estate private equity firm.
Goodwin Gaw, the chairman and managing principal of Gaw Capital Partners, said: “Entering the Spanish market with one of Spain’s most distinguished entrepreneurs marks an important milestone for Gaw Capital Partners and its hospitality platform, GCP Hospitality. We will further expand the Hospes brand by opening more properties in tourist areas and strategic cities within Spain and Southern Europe.”
Christophe Vielle, the CEO & co-founder of GCP Hospitality, said: “We will leverage the reputation of Hospes Hotel Group as well as our international network to increase the brand’s footprint.”