2023-08-01 18:47:38
El Corte Inglés has sold its 50% stake in Only You Hotels to Palladium Hotel Group -owned by the Matutes family-, a company with which it has participated equally since 2006, according to the 2022 annual report published by the company.
The operation was closed on July 28 of last year, so Palladium remains the sole shareholder of the hotel company, which owns five establishments in Spain, two in Madrid, one in Malaga, another in Valencia and Seville –its opening is planned for 2024–.
From Palladium they have confirmed to Europa Press that the intention of the hotel is “to continue with the growth and internationalization of the brand that it already managed and will continue to manage.”
“Only You is a brand owned by the Palladium Hotel Group, which will continue to grow with assets within the Matutes Group of Companies and with third-party assets through management contracts,” he highlighted.
His departure from Only You came a few months after El Corte Inglés and Palladium announced a strategy to promote the hotel brand to “strengthen its position in the high value-added hotel segment by developing new establishments for that chain.”
In this sense, both companies analyzed “various options in privileged locations in cities both in Spain and in other countries to increase their presence in the ‘premium lifestyle’ hotel segment.”
Only You’s first international hotels will be in Venice (Italy), with an urban hotel that will open its doors in 2025, and in the United States, with the new ’45 Times Square Hotel’, belonging to the Rosp Corunna group, ‘family office ‘ by Sandra Ortega.
In addition, at the beginning of 2022, both companies sold to the Eurazeo company five hotels under its Ayre Hoteles brand, totaling nearly 800 rooms, located in Barcelona, Madrid, Córdoba and Oviedo, as well as a plot of land in Porto (Portugal).
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