Keyword: Riu Hotels & Resorts
The hotel is expected to join Riu’s portfolio on Nov. 12 after the final formalities of the transaction are completed.
The hotel is Riu’s sixth in the country through Tikida Group, its Moroccan partner.
The new Hotel Riu Plaza España is in the city's historic Edificio España.
The company has acquired its second hotel in the country and land to build a third.
The Spanish company has purchased a 25-hectare site on Senegal’s west coast to build at least two new hotels.
The company demolished a previous hotel with the same name and rebuilt it from scratch.
When the Toronto property opens in 2021, it will be the Spain-based company's first hotel in Canada.
The hotel sector has switched up some roles: as global brands shed owned assets, traditional tour operators are stepping in as hotel owners.
In the course of the last few years, the Spanish market has been favorable for many asset repositioning projects that are helping to attract travelers.
Madrid’s growing reputation as a leisure and business destination is bringing in more international visitors. Those visitors, in turn, are bringing in more branded hotels.