Pestana Group acquired a new, four-star hotel in Barcelona for more than $20 million.
The Pestana Arena Barcelona is located next to the Plaza de Espana and near Fira, the Barcelona Congress Centre; and the Sants train station, which operates a TGV connection to Madrid.
The 84-room property features 11 junior suites, meeting rooms, a gym, restaurants and bars and an outdoor terrace.
“[In terms of hotels] 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 (congresses, cruises, executive and leisure) while resilient to seasonality,” said Jose Roquette, head of new developments at Pestana Group.
With the new hotel in Barcelona, Spain becomes the 15th Pestana Hotels & Resorts destination, along with the U.K., Portugal, Germany, U.S., Cuba, Argentina, Brazil, Colombia, Venezuela, South Africa, Mozambique, Cape Verde, Morocco and Sao Tome and Principe.