Hotel Miguel Angel, Madrid — Photo by Lopesan Hotel Group
  • The transaction marks the largest deal in the Spanish hotel sector for 2024
  • The hotel, a symbol of luxury on Madrid’s Paseo de la Castellana, is set to be revitalised by this investment, reaffirming its status as a beacon of exclusivity and elegance.

Lopesan Hotel Group, the leading hotel company from the Canary Islands, in partnership with the investment firm Stoneweg Hospitality, has acquired the Hotel Miguel Angel, previously owned by General Mediterranean Holding S.A SPF, an iconic luxury hotel in the heart of Madrid’s Paseo de la Castellana.

This transaction represents Lopesan Hotel Group's entry into Madrid, with the objective of bringing its personalised experiences and signature services to the hotel, while also embarking on a revitalisation of its architectural and decorative concept. Thus, this iconic property joins a portfolio of 22 owned and managed hotels with a presence in five countries.

The acquisition of Hotel Miguel Angel represents Lopesan Hotel Group’s second venture into the urban tourism segment, following the acquisition of the AC Hotel Iberia in Las Palmas de Gran Canaria earlier this year. With this move, Lopesan Hotel Management, the group’s management arm, will incorporate this landmark Madrid hotel into its brand portfolio and elevate its value proposition with a comprehensive renovation expected to last one year.

The transformation of Hotel Miguel Angel, with its 241 rooms, aims to offer guests a luxurious and cutting-edge experience, turning it into a new attraction in Madrid, with a special emphasis on exclusive gastronomic offerings and services.

Stoneweg Hospitality, which is already firmly established in the European hotel sector, joins the alliance as a key operational partner. The acquisition of Hotel Miguel Angel furthers the company’s strategy of adding high-value properties in the most desirable locations of major tourist destinations.

This partnership with Lopesan Hotel Group will modernise this historic building and create a new hotel concept that combines leisure and work offerings, delivering superior long-term returns through personalised experiences, technology and sustainability.

Law Firms Squire Patton Boggs and A&O Shearman advised the Seller and the Purchaser respectively.