ATLAND rolls out its strategy in the hospitality sector with a first acquisition in Spain

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As presented during the strategic review in March 2024, ATLAND aims to strengthen its presence in the hospitality industry. The Group today announces its first acquisition in this sector with the takeover of the “Ibis Budget Bilbao City” hotel. Opened in 2019, the property offers 149 rooms and is located in the heart of Bilbao, close to the city’s main tourist attractions. 

This acquisition, made on behalf of the SCPI Epargne Pierre Europe, represents a rare opportunity in a destination where entry barriers remain particularly high and the opening of new establishments is restricted. Positioned in the structurally resilient economy segment, the hotel mainly welcomes European guests and offers quality services. This transaction also marks the beginning of a collaboration with the hotel group Continuum, the second-largest Accor franchisee in Spain with 5 hotels and 11 hotels across all brands, which will operate the asset under a new long-term lease.

 

Bruno Juin, Head of Hospitality Investment at ATLAND, stated: “Spain, as the world’s second-largest tourist destination, has strong fundamentals. Bilbao, in particular, represents a promising market with sustained growth in tourism activity. We are excited to collaborate with a hotel operator as competent as Continuum in managing this asset. We remain active in seeking opportunities across the eurozone to continue deploying our hospitality strategy.” “Continuum, now ATLAND’s operating partner, consolidates and ensures the continuity of operations at Ibis Budget Bilbao City, now that the first investment, development, and construction cycle of the asset is complete. Thanks to Continuum’s accreditation as a white-label franchise manager with major international hotel groups such as ACCOR, IHG, Hilton, and Marriott, we hope to continue developing the potential of joint synergies with ATLAND,” said Eduardo Irigoras and Jean-François Mabrut, co-founders of the Continuum Hospitality Group.