27 February 2020, Amsterdam, The Netherlands
Archer Hotel Capital (“Archer”) today announced that it has signed an agreement to acquire the 200-room Madrid EDITION for a purchase price of €220 million. The luxury hotel is currently being developed by KKH Property Investors (“KKH”) and is due to open in May 2021, at which point the completion of the transaction is envisaged. KKH, which previously developed the Barcelona EDITION, was advised on the transaction by HVS Hodges Ward Elliott.
We are delighted to have found an agreement with KKH for the acquisition of our second property in Madrid. KKH has put together an attractive scheme and we are confident the Madrid EDITION will be one of the most exciting hotel openings across all of Europe in 2021.”, said Dominic Seyrling, Director, Investments for Archer Hotel Capital.