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Thursday, May 23, 2024

RyC advises Monthisa on the €26m sale of Radisson Blu Madrid hotel

Ramón y Cajal Abogados has advised Monthisa, a business group owned by the Montoro Zulueta family, on the sale of the Radisson Blu Madrid Prado hotel for €26 million to a private investor

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Monthisa, owned by the Montoro Zulueta family, has closed the sale of the Radisson Blu Madrid Prado hotel to a private investor. The hotel, located on Calle Moratín, very close to Paseo del Prado, has a total of 3,796 m2 distributed over five floors plus roof and one floor below ground level.

The hotel has 58 rooms, a restaurant, spa, indoor pool and terrace. The sale will not affect the operator, as Radisson will continue to manage the asset.The sale will not affect the operator, as Radisson will continue to manage the asset.

The deal has been closed for around €450,000 per room, making a total of €26 million.

In 2010, the building received the ASPRIMA award for Best Renovation or Refurbishment and in 2020 the hotel was completely refurbished, bringing it up to the standards of a four-star superior hotel.

Ramón y Cajal advised Monthisa on Real Estate and Urban Planning matters with a team led by partner Francisco Bengoetxea Arrieta, together with lawyer Ane Basterretxea.

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