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Palace Hotel Barcelona for sale

The Palace Hotel in Barcelona, which was formerly the Ritz, is currently up for sale. International property and hotel consulting firm CB Richard Ellis is handling the sale and is understood to already be in a second round of negotiations with potential investors. According to the Head of the hotel division of CB Richard Ellis, Jorge Ruiz, “we have received numerous offers from foreign investors and some from Spain with bids coming in at between €60 and €70 million”.

However, one well-known investor is currently missing from the list of international parties interested in the hotel. Lebanese investor Boutros El Koury, who last year acquired the hotel Husa Princesa and Husa Moncloa in Madrid and the hotels Miramar and La Florida in Barcelona has not yet expressed an interest in the Barcelona Palace.

The former 5 star Ritz hotel has 125 rooms and was built by Swiss hotelier César Ritz. It opened in 1919 and soon became the hotel of choice for celebrities visiting Barcelona. Its guest book includes signatures from Cary Grant, Sophia Loren, Pele and Madonna among others. Salvador Dalí lived in the hotel for some time and one of its suites has been named after him. In 2007 the hotel closed to undergo a thorough renovation which cost thirty million euro and returned the shine to its golden halls and marble columns. The hotel restaurant, Caelis, has been awarded a Michelin star.

The Barcelona Palace now joins other luxury Barcelona hotels currently on the market. The last one to come up for sale is the well-known W hotel in Barcelona,  designed by Ricardo Bofill which is reputed to be for sale for some €200 million. One of the most emblematic hotels in Barcelona, the Hilton, located on one of Barcelona’s main thoroughfares, the Diagonal, has also been put on the property market in the last few weeks by Morgan Stanley.

 

This entry is filed under Barcelona Hotels.