A&O Shearman and Squire advise on the sale of iconic Hotel Miguel Ángel

Following a refinancing agreement in early August 2024, Madrid’s renowned Hotel Miguel Ángel has changed ownership, now part of the Lopesan hotel group in partnership with investment firm Stoneweg Hospitality. This high-profile transaction marks the largest single hotel acquisition in Spain to date, with the hotel’s value exceeding €800,000 per room.

This acquisition signifies General Mediterranean Holding‘s (GMH) temporary exit from the Spanish hotel market, although the group continues to manage successful properties across Europe and the Middle East.

Originally inaugurated in 1977 and managed by GMH and SPF, the Hotel Miguel Ángel has been a hallmark of Madrid’s luxury hospitality scene for over 30 years. Situated in the prestigious Chamberí district, close to embassies, financial centers, and cultural landmarks, the hotel had been closed since the onset of the COVID-19 pandemic.

In this landmark real estate transaction, Squire Patton Boggs advised the sellers, led by Ramón Castilla (pictured), Partner in Real Estate, with support from Senior Associate Laura Gómez, Real Estate Associate Marina Fernández, Tax Partner Jose Aguilar-Shea, and Financial Counsel Ana Bohorquez, among other legal experts across Real Estate, Finance, Tax, and Labor practices.

The buyer, Lopesan and Stoneweg, were represented by A&O Shearman as legal advisors. The team was formed by lawyers from multiple departments, beginning with Corporate and M&A, represented by Bosco De Checa, Cristina Palau Redolat, Juan Gómez Carús, and Ana Zafra Romance, who were supported by Santiago de Vicente and Javier González Pardo from Real Estate. Additionally, Jimena Urretavizcaya Gil, Laura Cabezas Muñoz, and Reyes Carreira Malaxechevarría contributed from the Banking department, while Tax matters were handled by Ishtar Sancho Escudero, Marina Granada Belmonte, and Paula López. Public Law expertise was provided by Alvaro Sánchez-Bordona Benardelli and Clara Iglesias Juárez, and Employment aspects were managed by Silvia Bauzá, Jose Antonio Segovia Rodríguez, and Lucía Torquemada Ruiz. The team also included Laur B. and Andrea Lisnier from Data Protection, alongside Lara Ruiz Martín and Teresa Hermosilla Cabezas from IP.