ASG Checks Hampton by Hilton in to €40 Million Hotel Project in Barcelona
ASG, which targets special investment opportunities in German and Spanish real estate, has checked Hampton by Hilton in to a new 242-room hotel that will be built in Barcelona. It is the third investment to date in Spain's dynamic hotel sector by ASG funds.
Hampton by Hilton Barcelona Fira Gran Via will operate under a franchise agreement with Borealis Hotel Group, which has signed a long lease to operate the new hotel. ASG will build the property opposite the Fira de Barcelona conference center in the Plaza Europa business district. Construction work has started and ASG is scheduled to deliver the new hotel in the first quarter of 2021. The entire project is projected to cost approximately €40 million.