Hong Kong-based real estate private equity firm Gaw Capital Partners has acquired a 50% stake in Spanish boutique hotel brand Hospes Hotel Group, of which its total asset is valued at €125 million, forming a joint venture with a Spanish investment company Omega Capital.
Gaw Capital invested through its European Hospitality Fund I managed by GCP Hospitality.
Hospes Hotel Group is a Spanish hotel operator with 10 properties in the luxury and heritage boutique hotel segment. Each hotel has been crafted in an artisan fashion, combining elements of heritage, design, local textures and technology together.
Hospes’ luxury boutique hotels are situated in various locations across Spain, including Madrid, Alicante, Granada, Valencia, Mallorca, Córdoba, Seville, Cáceres and Salamanca. The properties are in close proximity to some of Spain’s most prominent historical sites, each designed to create their own unique atmosphere and style.
"We are delighted to form a joint venture with Omega Capital through our European Hospitality Fund I managed by GCP Hospitality to acquire a 50% stake in Hospes Hotel Group," said Goodwin Gaw, chairman and managing principal of Gaw Capital. "We will further expand the Hospes brand by opening more properties in tourist areas and strategic cities within Spain and Southern Europe."
Gaw Capital has raised five commingled funds targeting the Greater China and Asia Pacific region since its inception. The firm also manages value-add/opportunistic funds in Vietnam and the U.S., a Pan-Asia hospitality fund, a European hospitality fund, a U.K. creative office vehicle, and also provides services for separate account direct investments globally.
Gaw Capital has raised equity of US$10 billion since 2005 and commands assets of US$18 billion under management as of first quarter 2018.
Omega Capital is an investment company whose shareholder is Mrs. Alicia Koplowitz. Its investment activities cover a broad range of assets globally. It has long term investments in
three public and private companies as well as in commercial property hotels, offices and retail— both in Europe and in the U.S.