RC Law Advised Hotel Owner on a Deal with Barcelo on US Hotel
RC Law advised Ferrado Inmuebles on a complex operating lease to transfer the management of El Prado Hotel, a 62-room luxury hotel located in Palo Alto, California, to Crestline Hotels & Resorts, the US affiliate of Palma de Mallorca based Barcelo Hotel Group. Ferrado Inmuebles is the real estate investment group owned by Sandra Ortega. Crestline was advised by Eckert Seamans of Pittsburg, Pennsylvania.
PRESS RELEASES
Sandra Ortega sigue tratando de rentabilizar sus inversiones inmobiliarias a través de su sociedad inmobiliaria (Ferrado Inmuebles) tras el desplome sin precedentes provocado por el coronavirus. Tras cerrar 2020 con unas pérdidas de 128,5 millones de euros, la compañía está revisando todos los contratos en vigor para revertir una cuenta de resultados negativa. Y el último movimiento se ha producido esta mañana, en la que la hotelera Barceló ha anunciado que Crestline Hotels & Resorts, la gestora que opera sus inmuebles en EE UU, se ha hecho con la gestión del hotel El Prado, propiedad de Ferrado Inmuebles.
El inmueble, situado en Palo Alto (California), cuenta con 62 habitaciones y ha sido reformardo íntegramente. “El Prado es uno de los hoteles más emblemáticos del centro de Palo Alto. Se trata de un sofisticado y elegante establecimiento, ideal tanto para los visitantes como para los residentes. Estamos deseando incorporar el servicio característico de Crestline a este histórico hotel”, ha recalcado James Carroll, presidente de Crestline Hotels & Resorts.
Las pérdidas de la sociedad inmobiliaria han deteriorado las cuentas del holding Rosp Corunna en el que se integra. Esta sociedad perdió 91 millones en 2020 y sus ingresos cayeron un 24% hasta los 159,6 millones de euros.
Source: https://cincodias.elpais.com/cincodias/2021/11/05/companias/1636116593_888274.html
Barceló Hotel Group has signed an agreement to manage a hotel located in Palo Alto (California, United States), owned by Sandra Ortega, through the hotel’s US management company, Crestline Hotels & Resorts.
The hotel is owned by Ferrado Inmuebles, which in turn belongs to the daughter of the founder of Inditex, Amancio Ortega, and that she has selected Crestline Hotels & Resorts to take over the management of El Prado Hotel.
This hotel ’boutique’ deluxe It offers 62 rooms and ‘suites’ and is characterized by its Spanish architecture and its European atmosphere.
Source: https://live-feeds.com/barcelo-will-manage-a-sandra-ortega-luxury-hotel-in-palo-alto-california/
Barceló Hotel Group has signed an agreement to manage a hotel located in Palo Alto (California, USA), owned by Sandra Ortega, through the hotel’s American manager, Crestline Hotels & Resorts.
The hotel is owned by Ferrado Inmuebles, which in turn belongs to the daughter of the founder of Inditex, Amancio Ortega, and who has selected Crestline Hotels & Resorts to take over the management of El Prado Hotel.
This luxury boutique hotel offers 62 rooms and suites and is characterized by its Spanish architecture and European atmosphere.
