BARCELONA—Pestana Group has acquired a new hotel here for roughly $20 million.
The new Pestana Arena Barcelona hotel offers 84 guestrooms, including 11 junior suites, several meeting rooms, gym, restaurants and bars and an original terrace.
The hotel is located near the Plaza de España, the Parque Miró and the Arena shopping mall. Other nearby destinations include the Sants train station, the Barcelona Congress Centre (Fira), the Catalan Art Museum, the Olympic Village and the Montjuic hill.
José Roquette, board member, head of new developments at Pestana Group, said in a statement, “Hotel-wise, Barcelona is the most consistent and attractive market in Spain, with higher occupancy and average room rates than Madrid. It’s got major international exposure and is proficient in captivating highly valuable segments while resilient to seasonality…We’re very happy about this new acquisition that marks our long awaited strategic entry in this country and opens new development perspectives.”
With the new hotel in Barcelona, Spain becomes the 15th Pestana Hotels & Resorts destination in the world. In addition to the UK, the Portugal-based company has units in Portugal, Germany, the United States, Cuba, Argentina, Brazil, Colombia, Venezuela, South Africa, Mozambique, Cape Verde, Morocco and São Tomé and Príncipe.