Marriott International has sold its leasehold interests in the Renaissance Barcelona Hotel to an affiliate of the Qatar Armed Forces Investment Portfolio (QAFIP) for approximately €78 million (approximately US$106 million) including €45 million (US$62 million) cash and the assumption of €33 million (US$45 million) of related obligations.
The hotel will continue to be operated by Marriott under a long-term management contract.
Opened in April 2012 following a major renovation, the Renaissance Barcelona Hotel is located in the city’s Eixample District close to cultural attractions such as Gaudi’s La Sagrada Familia and La Pedrera.
“Through the sale of the Renaissance Barcelona Hotel we are delighted to welcome a new partner and owner to our Marriott portfolio,” said Amy McPherson, president and managing director for Marriott International in Europe. “Barcelona is a key gateway city and one of the world’s most popular destinations, and with such a strong and respected owner we are confident about the future of this wonderful hotel and our relationship with QAFIP.”