- HI Partners, a subsidiary of Banco Sabadell, will invest over 9 million Euros to renovate the building, which is due to open in 2017
- The new hotel, located on 49 Calle Atocha, shall be a 4 stars establishment with 87 rooms
HI Partners, a real estate company that also manages the hotel assets of Banco Sabadell, has signed an agreement with AXEL Hotels to create the first gay hotel in Madrid. The building, located on 49 Calle Atocha, will be converted into a 4-star hotel with a total of 87 rooms, which will be open to the public in 2017. HI Partners will invest more than 9 million Euros in the establishment, which will be managed by AXEL, in order to introduce the Spanish capital’s first hotel aimed specifically at the LGBT community. The establishment, owned by Banco Sabadell, is a protected building which will serve a new function thanks to the agreement reached by both companies.
Alejandro Hernández-Puértolas, Chief Executive Officer of HI Partners, emphasised that “without any doubt, this project reinforces one of the main objectives of our company, which is to transform the property assets of Banco Sabadell, creating new management opportunities and bringing more added value. The agreement that we have signed with Axel is a clear testament to this commitment”.
Alberto Olivé, Chief Executive Officer of Axel, stated that “we are extremely excited about this new project in the capital and we are convinced that this undertaking between HI Partners and Axel group will have a positive impact on the already well-established LGBT community in Madrid, and will undoubtedly enhance international awareness of this group. This project constitutes an important step, as Madrid has one of the largest LGBT communities in the world”.
About HI Partners
Hotel Investment Partnership (HI Partners) is a company created by Alejandro Hernández-Puértolas to manage and acquire hotel assets for Banco Sabadell. It currently manages 22 hotel establishments of the bank’s retail portfolio throughout the country, with a total of 1,600 rooms.
The company, which is 99% owned by Banco Sabadell, is chaired by Enric Rovira, Deputy General Manager of the Bank. Its founding partners are Mr Hérnández-Puértolas, Santiago Fisas and Sergio Carrascosa, who own the remaining 1%.
The team involved is fully committed to the project and, together, its members bring more than 55 years’ experience in the hotel sector to the table, having taken part and collaborated with some of the most significant chains: Hyatt, Mandarin, Hilton, Starwood, Intercontinental, Dolce, Marriotty Pierre & Vacances. These are professionals who have been involved in over 50 hotel transactions, both nationally and internationally.