Friday, September 29, 2023

Hogan Lovells advises Leonardo on Costa del Sol hotel acquisition

Hogan Lovells has counselled Leonardo Hotels on its 10th acquisition in Spain


The Leonardo Hotels chain is making its first foray into the Spanish holiday segment with the purchase of a hotel on the Costa del Sol.

The Berlin (Germany) based company has taken ownership of what will be called Leonardo Hotel Fuengirola Costa del Sol, which has 184 rooms with a terrace and outdoor pool and is located in Fuengirola (Malaga). It also has a spa, buffet restaurant, and four bars.

With this addition, the company now has ten establishments in Spain, where until now it was only present in cities, specifically Madrid, Barcelona, Bilbao and Granada.

“With the Costa del Sol we begin a new stage of expansion in the Spanish market. Our aspiration is to introduce the brand in holiday destinations of great attraction for domestic and international tourism, taking advantage of all the experience of our parent company, Fattal Hotel Group, in the Eastern Mediterranean (Cyprus, Greece, Israel, etc.),” said Shay Raz, general manager of Leonardo Hotels for Spain and Portugal.

Shaz said that “Malaga will not be the only holiday opening” and stressed that, thanks to their knowledge of outbound markets such as the United Kingdom, Germany and the Benelux – where they have hotels – they are able to “bring added commercial value to the holiday hotels that depend on these markets”.

Leonardo Hotels Central Europe has a portfolio of hotels in Germany, Austria, Switzerland, Poland, Czech Republic, Hungary, Spain, and Italy. Operating in 8 countries and 38 destinations, this hotel portfolio offers 85 establishments with more than 14,500 rooms. It operates through the brands Leonardo Hotels, Leonardo Royal Hotels, Leonardo Boutique Hotels and NYX Hotels by Leonardo Hotels. Leonardo Hotels Central Europe is part of the Fattal Hotel Group, a company founded in 1998 by David Fattal with 222 hotels with more than 42,000 rooms in 108 destinations and 19 countries in Europe and Israel.

Leonardo was advised by a multidisciplinary team from Hogan Lovells Madrid, led by RE partner Emilio Gómez and with the participation of associate Carlos Gil, Labour partner Luis Enrique de la Villa, and associate Carmen Varela, as well as associates Alejandro Moscoso and María Santana, from Tax.

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