The Sancus Capital Partners fund, whose partner is the businessman Climbing Borja, has acquired two luxury hotel jewels in Madrid. Purchase from the Mexicans of RLH Properties the Rosewood Villa Magna and the Bless Hotel Madrid, as reported by both parties on Wednesday. At the moment, the number of the operation has not been disclosed.
RLH Properties acquired the Villamagna in 2018 for 210 million euros and has reformed it, investing around 50 million. In 2021, it took over the old Velázquez hotel, renamed and renovated into a five-star called Bless Collection for 115 million. So it is likely that the operation will exceed 325 million.
I know It just so happens that Sancus, founded in March 2021, is created by Escalada, who in turn is the CEO of RLH Properties. Escalada, in fact, was at the forefront of the purchase of hotels for Aztec investors. So therefore he knows the assets well.
The Spanish manager is expected to leave RLH. For now, he will continue as CEO of the Mexican company in a transition process that is expected to end in the second quarter of 2023 and as a director, at least until 2025.
Borja Climbing. Pablo Monge
The historic Villa Magna, in the ultra-luxury segment, has just finished its complete renovation and has been managed by the Rosewood Hotel Group since 2021. Located on Paseo de la Castellana in Madrid, it has 154 rooms and a gastronomic offer where Amós stands out, which It is run by chef Jesús Sánchez (three Michelin stars).
The Bless Hotel Madrid is managed by the Palladium Hotel Group under its luxury brand Bless Collection. Located in the heart of the Salamanca district, this luxury property was inaugurated in 2019. It has 111 rooms (27 of them suites) and a rooftop with a pool.
These are the first assets in Spain for Sancus Hotels, and the fund wants to demonstrate its commitment to luxury tourism in the country, “a market that has grown in recent years, especially in Madrid, after the arrival of new operators of this segment,” according to the statement.
Sancus also has vehicles such as Sancus Renovables, Sancus Ventures, Ciudad Mayakoba and Balam Fund I in its portfolio.
For its part, the Mexican company has luxury establishments in Mexico such as Rosewood Mayakoba, Fairmont Mayakoba, Banyan Tree Mayakoba, Andaz Mayakoba, Four Seasons Mexico City, One&Only Mandarina, El Camaleón PGA TOUR golf course, Rosewood Residences Mayakoba, Fairmont Heritage Place Mayakoba and One&Only Mandarina Private Homes. In addition, it has two projects under development, also in the same country, Rosewood Mandarina and Rosewood Residences Mandarina, whose opening is scheduled for the end of 2024.