Stories
Hotel Asset Analysis and Sale/Acquisition
01 The Opportunity
The Andorran company Daguisa Hotels Group was considering the reorganisation of its hotel asset portfolio through a process culminating in the sale of the Hotel Kyriad Andorra Comtes d’Urgell, a 169-room, 3-star establishment.
The Principality of Andorra is a unique market with more than 200 hotel establishments. 33 of these are located in the parish of d’Escaldes – Engordany, representing 15% of the total hotel offerings of the country. Within a territory covering only 468 km2 the market is highly competitive and a key goal consists of reducing the seasonality of tourism attracted traditionally by winter sports and the lure of the destination from the point of view of nature and retail.
02 The Solution
Cushman & Wakefield participated in the valuation of the company’s asset portfolio. Based on this valuation process and an analysis of the market situation, Daguisa was advised on the best possible options in terms of the sale of one of its assets.
Cushman & Wakefield’s knowledge of the Andorran market and possible interested players facilitated this sale, maximising the price and, in tandem, advising on the future strategy for the group.
03 The Result
The sale process for the Hotel Kyriad Andorra Comtes d’Urgell was begun and concluded in November 2019 with acquisition by Soldeu Hotels, the owner of a number of hotels within the country and whose majority shareholder is the family business group Montané.
The company effectively managing the hotel is Hotansa, a firm belonging to the same business group.
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