HI Partners Buys a Hotel on Gran Canaria

In a sale-and-leaseback agreement, Barcelona-based hotel investment firm HI Partners has recently purchased the IFA Caterina Hotel, on Gran Canaria in Spain’s Canary Islands, for €42.4 million (€105,500 per room) from Lopesan Hotel Group. The 402-room hotel is in the island’s capital, Las Palmas, and its new owner will now invest €7 million in refurbishing the property. Lopesan will continue to manage the four-star hotel.