Hong Kong-based private equity firm Gaw Capital Partners (“Gaw Capital”) has announced that it has, through its European Hospitality Fund I managed by GCP Hospitality (“GCP”), acquired a 50% stake in Spanish boutique hotel brand, Hospes Hotel Group (“Hospes”) in a joint-venture with Spain-based investment firm, Omega Capital (“Omega”). Hospes’ total asset is valued at EUR125 million with ten properties in prime locations across Spain.

Through the deal, Gaw Capital and GCP will leverage Hospes’ reputation in Spain and look to expand their presence in Europe, especially in tourist areas and strategic cities within Spain and Southern Europe. Hospes’ luxury boutique hotels are situated in close proximity to some of Spain’s most prominent historical sites and feature facilities such as bars and restaurants, wellness centres and luxury spas. The acquisition marks Gaw Capital’s second overseas hospitality investment in a month, after the investment manager agreed to pay AUD157 million for a hospitality-office complex in Melbourne, Australia on 2 July 2018.