Partners, Trinity acquire The Hoxton Hotel in Barcelona

Global private markets firm Partners Group has acquired The Hoxton Poblenou, a 240-room, four-star hotel in Barcelona. 

The Hoxton Poblenou, Barcelona

The firm invested on behalf of its clients, alongside Trinity Investments and another third-party investor, purchasing the property from Norlake Hospitality. The financial details of the transaction were not disclosed. 
The Hoxton Poblenou is a recently converted lifestyle hotel situated in Barcelona's innovative 22@ District. This area is an emerging technology hub, conveniently located between the city's main leisure attractions, business district, and coastline. The hotel offers a range of amenities, including four food and beverage venues, a rooftop area with a pool, and over 1,000 m2 of meeting and event space. The Hoxton brand is part of Accor's portfolio, managed by Ennismore's lifestyle division.
Partners Group estimates that over the past decade, Barcelona's hotel room supply has grown by less than 1% CAGR, while demand has increased by nearly 3%.
In collaboration with its co-shareholders, Partners Group plans to focus on increasing group bookings and enhancing the appeal and utilisation of the hotel's food and beverage offerings. The hotel is also poised to fully leverage its integration into Accor's extensive global distribution and loyalty programs.
Stephen McCall, managing director, Real Estate, Partners Group, said: "The Hoxton Poblenou is perfectly positioned to capitalise on Barcelona's unique appeal to both business and leisure visitors. Executing a value creation plan in the hotel sector is specialised and operationally intense, which is why we have built vertical depth into our hospitality strategy by partnering with Trinity on this transaction."
This acquisition adds to Partners Group's global hospitality real estate strategy, which boasts a USD 1 bn (€932 mln) Gross Asset Value portfolio.