A group of Swiss and American investors buy The Hoxton hotel in Barcelona from Norlake

the hotel The Hoxton in Poblenou (Barcelona) changes hands. The Swiss manager Partners Group takes control of the asset, with the help of the American real estate firm Trinity Investmentsafter closing an agreement with the British Norlake Hospitality. The operation, the amount of which has not been disclosed, also involves the entry of a third investor not yet revealed.

The Hoxton is part of Accor’s portfolio of brands, within its lifestyle division, operated by Ennismore. It is about a four-star hotel with 240 roomsrecently renovated in the innovative 22nd district of Barcelona that has four restaurants, a rooftop with a pool and views of the Sagrada Familia.

The establishment opened its doors last April 2022, consummating its debut in the Spanish market. The London brand chose the thriving Poblenou neighborhood to establish its first headquarters in the country and break the barrier of ten hotels. The Hoxton opened its first hotel in London’s Shoreditch neighborhood in 2006. and since then it has opened more than a dozen more properties, expanding its presence in Paris, Amsterdam, New York, Portland, Chicago and Los Angeles.

Partners simply comments that the new investors will concentrate their efforts on implementing a transformative value creation plan focused on improving group reservations and the activation and attractiveness of restaurant establishments. To approximate the magnitude of the new investors, only the Swiss group’s real estate business has a portfolio with a gross asset value of 60,000 million dollars (more than 51,000 million euros at the exchange rate) worldwide at the end of September.

The transaction is part of Partners’ hotel strategy, endowed with 1,000 million dollars (850 million euros), and represents the fourth collaboration with Trinity since 2023. With this operation, the Swiss firm reinforces its commitment to hotel assets located in highly regulated and high-demand urban markets, which it has demonstrated in previous high-profile acquisitions such as The Standard hotel located in London.

For its part, Trinity’s presence is part of the growth strategy that the Honolulu firm has implemented in Europe over the last two years. With its operations center installed in London, Trinity has carried out significant operations in the Old Continent such as the acquisition of the Park Hyatt in Zurich, in consortium with Oaktree Capital Management and UBS Asset Management.