Due to the terrible economic blow caused by covid-19, El Corte Inglés has decided to enter a new business sector. Specifically, in the world of hotels, where it already had a stake in the Ayre chain, this time it will directly manage a complex that will be its big bet in the hospitality industry.
Not yet official but with a clear idea, El Corte Inglés already has the approval of the Madrid City Council to reform two buildings that it will transform into its first hotel. Owned by , a company that controls the department stores themselves, these properties will thus be their solo debut in the sector.
With an investment estimated at 6.8 million euros, this movement enters the . This was approved by the Shareholders’ Meeting to clean up the accounts damaged by the pandemic, and it would be dealt with part of the sale of the eight hotels that it managed from the Ayre chain together with the Matute family.
, El Corte Inglés would have already asked BBVA and Deloitte to search for potential buyers, while the idea would be to sell all the properties at once and not asset by asset. The main ones in Madrid, the joint company also managed hotels in Seville, Córdoba and Oviedo.
Where will the El Corte Inglés hotel be located?
With a first settlement in Madrid, in this solo debut, the hotel would be next to the shopping centers that ECI has in the Salamanca district. Between both recognized properties of the commercial structure of this district, the buildings to reform are those of Goya, 89 and Conde de Peñalver, 3. That is to say, where the Sfera store is located right now.
stars and price
In addition, the ECI estimate is that the hotel has no less than 4 stars. A complex of 1,200 square meters, with 113 rooms whose price is still unknown. Of course, with the aforementioned investment of 6.8 million, it will become one of the great spearheads of the Spanish group together with its main department stores.
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