Hong Kong-based Gaw Capital Partners has entered the European hospitality market with the acquisition of a 50% stake in Hospes Hotel Group, a Spanish boutique hotel brand.
Gaw has formed a joint venture with investment firm Omega Capital to buy the hotel operator鈥檚 鈧�125m assets.
Hospes operates 10 properties located in various prime locations across Spain.
The asset will be held in Gaw鈥檚 European Hospitality Fund I managed by GCP Hospitality, the hotel subsidiary of the real estate private equity firm.
Goodwin Gaw, the chairman and managing principal of Gaw Capital Partners, said: 鈥淓ntering the Spanish market with one of Spain鈥檚 most distinguished entrepreneurs marks an important milestone for Gaw Capital Partners and its hospitality platform, GCP Hospitality.鈥�
鈥淲e will further expand the Hospes brand by opening more properties in tourist areas and strategic cities within Spain and Southern Europe,鈥� he said.
Christophe Vielle, the CEO & co-founder of GCP Hospitality, said: said the outlook for tourism in Europe is positive.
鈥淲e will leverage the reputation of Hospes Hotel Group as well as our international network to increase the brand鈥檚 footprint,鈥� said Vielle.
