KPMG advises IAH on land and luxury hotel project sale to Kerad Holding

KPMG Legal and Corporate Finance teams worked together advising Inversiones y Adquisiciones de Hoteles SL (IAH) on the sale of the land and a luxury hotel project in Málaga to Gerard Pique´s family investment company, Kerad Holding

According to market sources, the Seville-based trading company Inversiones y Adquisiciones de Hoteles SL sold the land for circa €20 million to the business holding company Kerad Holding, run by the footballer’s father, Joan Piqué Rovira and himself.

Kerad Holding, the family investment company of FC Barcelona player Gerard Piqué, closed the deal last July. It would mean a total investment of around €50 million since it would include the construction of the hotel as well as the site, where the old Andalucia cinema was located, to build a five-star hotel on this prime spot in Málaga that, once complete, will be operated by the Meliá Hotels International chain.

This operation is considered to settle a pending account for Meliá chain since, although it has several hotels along the Costa del Sol, it will be the first one in the capital.

The KPMG Abogados´ team was led by partner head of real Estate Carlos Bardavío (pictured), working together in the deal with a Corporate Finance team from KPMG.