Invesco and SPREA acquire Radisson Collection Hotel in Bilbao

Invesco Real Estate, in collaboration with Santander Private Banking's real estate wealth division, SPREA, has acquired a five-star Radisson Collection hotel in central Bilbao.

Radisson Bilbao

This marks their second joint venture, following a residential land acquisition in Madrid.

The hotel, a prominent Bilbao landmark and former Santander headquarters, boasts 137 rooms and recently underwent extensive renovations, earning LEED Platinum certification. It offers a rooftop restaurant, meeting rooms, a fitness centre, and an indoor swimming pool.

The property is leased to the Radisson Hotel Group, a major global operator, with the Radisson Collection brand representing its luxury segment. This partnership allows SPREA's clients to leverage Invesco Real Estate's European hotel management expertise, aligning with Invesco's broader goal of providing private banks and wealth managers access to private market opportunities.

Fernando San Juan Monje, senior director, Investments, Spain at Invesco Real Estate, said: “Like much of Spain, Bilbao is benefiting from strong inbound travel demand, from tourists to business travellers. This timely acquisition of the upmarket Radisson Collection hotel is fully expected to help deliver real value for Santander’s clients.”

Jonathan Pierce, senior director - Fund Management, Wealth at Invesco Real Estate, added: “Bringing together the inherent benefits of real estate and other private market assets with the wealth channel is a key focus for Invesco Real Estate as we look to 2026. Many banks and wealth managers are recognising the attractive opportunities in what remains a relatively untapped but fast-growing market.”