As reported by the Spanish press, Qatari Diar is close to finalizing the acquisition of Hotel W, also known as ‘Hotel Vela’ in Barcelona. The transaction is pending authorization by the Port Authority and is expected to be closed in a few days.
Hotel W, one of the most luxurious hotels in Barcelona, is currently owned by OHL, FCC and Comsa-Emte. The owners are reported to have reached an agreement with Qatari Diar for the sale of their property for €200 million.
The hotel was designed by world-renowned architect Ricardo Bofill and is located on the beachfront along the Barceloneta boardwalk. It opened in October 2009 and was Starwood Hotels’ first investment in Western Europe.
Source: La Vanguardia