Spanish real estate investment trust Azora, via its European Hotel & Lodging Fund, has acquired Spanish owner-operator Medplaya Hotels. The deal includes six owned hotel properties in Spain – situated in Catalonia and the Costa del Sol – with a total of more than 1,500 rooms, as well as the operating company that manages an additional nine hotels. Azora plans to renovate the properties and reposition them. In 2019, Azora acquired seven hotels from Medplaya while keeping the company on as the operator through lease agreements, meaning that Azora now owns 13 of Medplaya’s 15 hotels.
