RIU ACQUIRES GRAND HYATT BARCELONA FROM BNP PARIBAS AND BLASSON

Spanish owner-operator Riu Hotels & Resorts has acquired the five-star, 465-room Grand Hyatt Barcelona in Spain from France’s BNP Paribas Asset Management and Madrid-based real estate investment company Blasson Property Investments, for a reported price of around €300 million (€645,000 per room). The property is situated on Avenida Diagonal in Barcelona’s business and shopping district of Les Corts, near to the Camp Nou football stadium. The 22-level hotel includes three restaurants, two bars and 22 meeting rooms, and was known as Hotel Princesa Sofia when it originally opened in 1975, in honour of the then Spanish princess. The property was acquired by BNP and Blasson in 2023. Riu plans to rebrand the hotel under its Riu Plaza brand and assume management of its operations in April 2027.