W Barcelona is for sale! and it's a bargain!
Sep 22, 2011, 6:22 am
#1
Original Poster
Join Date: Jun 2008
Location: BCN
Programs: Bombay Sapphire; Sephora Plat
Posts: 802
W Barcelona is for sale! and it's a bargain!
http://www.lavanguardia.com/encatala...0-milions.html
This article was breaking news in the local newspapers yesterday. The original builders and members of the consortium that owns the hotel are willing to sell it. Basically, the builder of the project (FCC) is flat broke due to the housing market crisis, and although the occupancy rate of the hotel is quite high and bussiness is doing well, they desperately need to recover whatever they can from their original investment.
Due to the situation of the construction bussiness, the property price is around 200 million Euros, 60 million lower than the original building costs, but FCC is willing to take the hit as long as they can deposit some fresh cash into their bank accounts.
This situation basically raises two questions:
This article was breaking news in the local newspapers yesterday. The original builders and members of the consortium that owns the hotel are willing to sell it. Basically, the builder of the project (FCC) is flat broke due to the housing market crisis, and although the occupancy rate of the hotel is quite high and bussiness is doing well, they desperately need to recover whatever they can from their original investment.
Due to the situation of the construction bussiness, the property price is around 200 million Euros, 60 million lower than the original building costs, but FCC is willing to take the hit as long as they can deposit some fresh cash into their bank accounts.
This situation basically raises two questions:
- Will the new owners be willing to continue with the SPG franchise? I can totally see the Andaz and the J.W. Marriots of the world willing to make attractive offers to the new owners in order to secure such a flagship property in Europe.
- If I buy it, what are the SPG benefits I get? I expect the Diamond treatment. Platinum is overrated
Sep 22, 2011, 6:29 am
#2
FlyerTalk Evangelist
Join Date: Nov 2002
Location: All over
Programs: Most
Posts: 10,839
I am planning to put a bid on it. Anyone else wants to join?
Maybe we can get some stimulus money from the US treasure and from the European central bank?
Maybe we can get some stimulus money from the US treasure and from the European central bank?
Sep 22, 2011, 7:10 am
#3
Join Date: Apr 1999
Location: South Florida USA
Programs: DL-MM/FC/FO AA-EXP/MM Starwood-Platinum Marriott-Platinum Hilton-Gold Hyatt-Diamond
Posts: 1,515
Just think of all the points if you paid with a Starwood Amex... Wonder if it would count as a Starwood purchase for the bonus points 
TW
TW
Sep 22, 2011, 7:34 am
#4
Join Date: Apr 2005
Location: SDQ/MIA
Programs: AA PLT, B6 Mosaic, Marriott Platinum, FPC/Accor Platinum, HHonors Diamond
Posts: 1,062
Seriously, anyone with 200m euro to plunk down on a hotel stays in private villas or paid suites and travels by their own conveyance.
Feb 1, 2012, 9:34 pm
#5
Join Date: Aug 2011
Location: Baltic Sea
Programs: SPG Platinum
Posts: 345
Sweet deal
I heard that Mitt Romney purchased it
Feb 3, 2012, 4:33 pm
#8
Join Date: Jan 2004
Programs: United GS (11 years in a row); Lifetime Marriott Titanium Elite; National Exec Elite
Posts: 46
Feb 3, 2012, 7:11 pm
#9
Join Date: Jan 2002
Location: DTW
Programs: Platinum: Delta, Starwood, Priority Club. Hyatt-Diamond, TA
Posts: 939
Feb 3, 2012, 10:13 pm
#10
Join Date: Sep 2006
Location: All over
Programs: AA-LTP, HH-DIA, Marriott-LT+AMB, Hyatt-Globalist, Hertz-PC, UA-GS
Posts: 6,828
It's a great property, I hope it says under the SPG umbrella.