Immigrate to Spain focuses on Spain: A local private enterprise has spent over 60 million USD to acquire a four-star hotel in Spain. On the afternoon of February 18, the signing ceremony for Chongqing Kangde Group's acquisition of the Santiago Hotel from the Barceló Group was held at the Foreign Trade Building. According to the agreement, Kangde Group will invest 66 million USD to acquire the Santiago Hotel from the Barceló Group.
It is understood that Kangde Group is a large comprehensive enterprise group primarily engaged in real estate development, while also involved in property management, hotel management, and construction engineering. The Barceló Group is one of the top 25 hotel groups in the world, and the Santiago Hotel is a four-star hotel under its brand, located on Tenerife, one of the ten most beautiful islands in Europe. The hotel has 406 rooms, with over 95% of the rooms offering sea views.
A representative from Kangde Group stated that after this acquisition, the group will not only focus on operating this established Spanish hotel but also plans to introduce its advanced management experience to Chongqing to support the development of the hotel industry in Chongqing. It is reported that Kangde Group has formulated a corresponding development plan to invest 1 billion RMB in overseas quality hotel acquisitions over the next 3-5 years. The acquisition of the Santiago Hotel is just the first step in their overseas acquisition goals.
After the signing ceremony, Vice Mayor Liu Qiang met with Mr. González, the president of the Barceló Hotel Management Group, and his delegation at the Municipal Foreign Affairs Building.
