DOGUS TO SELL VILLA MAGNA MADRID TO RLH PROPERTIES

Mexican banker Allen Sanginés-Krause’s luxury hotel investment vehicle RLH properties is reported to be acquiring the 150-room Hotel Villa Magna in Madrid for €210 million (€1.4 million per room). Seller of the hotel is the Turkish group Dogus Holdings, which acquired the hotel in 2016 for €180 million, and are reported to be under pressure due to the depreciation of the Turkish Lira earlier this year. Once the deal closes, the Villa Magna will join RLH’s other luxury hotel holdings including the Four Seasons Mexico City and the Rosewood Mayakoba.

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