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”.
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