Voice reading · ~1 minWelcome to the Notitur daily brief, your travel-industry recap. Today: Extendam buys three 4-star hotels in Madrid and Barcelona. French asset manager Extendam keeps expanding in Spain. It just bought three 4-star hotels in Madrid and Barcelona, pushing its local portfolio to 35 hotels and over 4,400 rooms. In Madrid it acquired the Crowne Plaza (a business district staple), the other two are in Barcelona, though the firm hasn't disclosed their commercial names.. The move fits Extendam's strategy of focusing on the upper midscale segment in major cities. Buying three assets at once gives it operational scale and stronger negotiating power with OTAs and suppliers. This deal shows that investor appetite for Spanish hotel real estate remains healthy despite macro headwinds. It will be interesting to see whether they rebrand any of the properties or keep the existing flags.. Fun fact: Extendam started with one hotel in 2014 and has built one of the most diversified portfolios in just ten years. For the full scoop, check out the original story on Hosteltur. That is today's recap. Come back tomorrow for more on travel, artificial intelligence and travel tech. See you tomorrow on Notitur.
French asset manager Extendam keeps expanding in Spain. It just bought three 4-star hotels in Madrid and Barcelona, pushing its local portfolio to 35 hotels and over 4,400 rooms. In Madrid it acquired the Crowne Plaza (a business district staple), the other two are in Barcelona, though the firm hasn't disclosed their commercial names.
The move fits Extendam's strategy of focusing on the upper midscale segment in major cities. Buying three assets at once gives it operational scale and stronger negotiating power with OTAs and suppliers. This deal shows that investor appetite for Spanish hotel real estate remains healthy despite macro headwinds. It will be interesting to see whether they rebrand any of the properties or keep the existing flags.
Fun fact: Extendam started with one hotel in 2014 and has built one of the most diversified portfolios in just ten years. For the full scoop, check out the original story on Hosteltur.
Quick questions
Which hotels did Extendam buy?
Three 4-star hotels: a Crowne Plaza in Madrid and two undisclosed properties in Barcelona.
How many hotels does Extendam now have in Spain?
With this purchase it reaches 35 hotels and over 4,400 rooms across the country.
Is Extendam a hotel chain or an investment fund?
It is a French hotel asset manager (investment fund) focused on the upper midscale segment.
How much did Extendam pay for the three hotels?
The price was not disclosed. The news only confirms the deal and the number of assets acquired.
Why is this deal relevant for the travel industry?
It shows continued foreign capital confidence in the Spanish hotel market and the bet on the country's two main cities.
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