Mexico's RLH makes European debut with €210m Villa Magna buy

By Richard Hook2018-11-26T16:10:00

Turkish conglomerate Doğuş Group has sold its luxury Madrid hotel Villa Magna to Mexican asset manager RLH Properties for €210m (£185m).

For RLH, which owns eight luxury hotels in Mexico including the Rosewood Mandarina, the deal represents the group’s first hotel real estate transaction in Europe. Chief executive Borja Escalada said the acquisition was the “first step” of a planned international expansion with new investments in Spain and wider Europe “expected soon”.

This content is only available to registered users

You must be logged in to continue

Would you like to read more?

Try Property Week For Free to finish this article.

Unlimited access to Property Week
Breaking news, comment and analysis from industry experts as it happens
Choose from our portfolio of email newsletters

To access this article TRY FOR FREE NOW

Don’t want full access? REGISTER NOW to read this article and up to 3 more this month and subscribe to our newsletters.

Registered users and subscribers SIGN IN here to continue