the hotel The Hoxton in the 22@ district of Barcelona changes hands. The Swiss manager Partner Group takes control of the asset, with the help of the American real estate company Trinity Investmentsafter reaching an agreement with the British Norlake Hotel. The operation, the amount of which has not been disclosed, also involves the entry of a third investor not yet revealed. The Hoxton is part of Accor’s portfolio of brands, within its lifestyle division operated by Ennismore. It is about a four-star hotel with 240 roomsrecently renovated in Barcelona’s innovative neighborhood, which has four restaurants, a rooftop pool and views of the Sagrada Familia.
The establishment opened its doors in April 2022, making its debut in the Spanish market. The London brand chose this booming area to establish its first headquarters in the country and break the barrier of ten hotels. The Hoxton opened its first hotel in the Shoreditch district of London in 2006. Since then, it has opened more than a dozen additional locations, expanding its presence to Paris, Amsterdam, New York, Portland, Chicago and Los Angeles. Three years after arriving in Spain, Ennismore is counting down the days until take over the emblematic “bullfighter hotel”: the ME Madrid Reina Victoria. The 192-room property will be Ennismore’s first property in Madrid and the second under its The Hoxton brand in Spain.
Partners simply comments that the new investors will focus their efforts on implementing a transformative value creation plan focused on improving group bookings and the activation and attractiveness of F&B establishments. To approximate the scale of new investors, only the real estate activity of the Swiss group has a portfolio with a gross asset value of 60 billion dollars (more than 51 billion euros at the exchange rate) worldwide at the end of September.
The transaction is part of Partners’ $1 billion (€850 million) hotel strategy and represents the fourth collaboration with Trinity since 2023. With this transaction, the Swiss company strengthens its commitment to hotel assets located in highly regulated and high-demand urban markets, as it has demonstrated in previous high-profile acquisitions such as The Standard hotel located in London.
For its part, Trinity’s presence is part of the growth strategy that the Honolulu firm has implemented in Europe over the past two years. With its operations center located in London, Trinity has carried out significant operations on the Old Continent such as the acquisition of the Park Hyatt in Zurich, in consortium with Oaktree Capital Management and UBS Asset Management.
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