Promotion photoHard Rock & ASG announces Hard Rock Hotel Madrid
GRI Club España member Brian Betel from ActivumSG Capital Management announces investment in Hard Rock Hotel Madrid.
October 10, 2018Real Estate
With a presence spanning more than 74 countries, Hard Rock International announces the expansion of its hotel portfolio, with the opening of Hard Rock Hotel Madrid in 2019. Working in collaboration with European real estate specialists, ActivumSG Capital Management Ltd. (ASG) Hard Rock will bring its signature vibe to this historic metropolitan city with the development of the new 159-room music-centric hotel.
“We are pleased to join forces with ASG, a company who shares in our vision, integrity and dedication to quality,” states Todd Hricko, Senior Vice President and Head of Global Hotel Development. “Hard Rock Hotel Madrid will bring a fresh, music-inspired destination to the city, and we look forward to offering guests authentic experiences that rock.”
Situated within a prime location in the heart of the vibrant city, Hard Rock Hotel Madrid will be located opposite the historic Museo Nacional Centro de Arte Reina Sofía in the Atocha district of Madrid, providing guests with ease of access to local sightseeing and cultural exploration. The Royal Botanical Gardens, the world-famous Museo Nacional Del Prado and Madrid’s largest railway station and hub of the high speed train network AVE are also nearby.
Regionally inspired food and beverage offerings will be available on-site, as well as a Constant Grind coffee bar and the brand’s signature restaurant, Sessions. Guests will enjoy photo-worthy panoramic views of the Spanish capital from the Rooftop Bar and Terrace, featuring a luscious open-air urban garden.
ASG acquired the site of the soon-to-be hotel when it was a municipal office building, and is leading an extensive €25 million programme to reposition it as an upper upscale 4 plus star hotel. Brian Betel, Managing Partner of ASG Iberia Advisors, said, “This is a classic ASG investment. We saw that this office building had far more untapped potential as a hotel given its proximity to Madrid’s major attractions, business center and shopping quarter. We are unlocking that value for our investors and Hard Rock Hotels’ unique brand will make an exciting contribution to the area. Selecting such a distinguished operator as Hard Rock Hotels is a major step forward in our business plan for this asset and our broader strategy in Spain. Our choice of Hard Rock stems from its renowned brand, its experience as an operator and its international reach.”
ASG & GRI Club
ASG is a GRI Club España member. ASG is a Jersey-based real estate investment manager focused on Germany and Spain. The group was founded in 2007 by Saul Goldstein after he left Cerberus, where he held a variety of senior roles. ASG currently has five discretionary closed-end real estate funds under management with a combined initial equity commitment of €1.5 billion. ASG funds invest in high quality properties and real estate-backed businesses with significant unrealized potential. Through hands-on asset management by its local teams, ASG repositions properties so that they generate the stable cash flows that appeal to prospective institutional buyers. ASG is regulated by the Jersey Financial Services Commission.
Information source: Hard Rock
“We are pleased to join forces with ASG, a company who shares in our vision, integrity and dedication to quality,” states Todd Hricko, Senior Vice President and Head of Global Hotel Development. “Hard Rock Hotel Madrid will bring a fresh, music-inspired destination to the city, and we look forward to offering guests authentic experiences that rock.”
Situated within a prime location in the heart of the vibrant city, Hard Rock Hotel Madrid will be located opposite the historic Museo Nacional Centro de Arte Reina Sofía in the Atocha district of Madrid, providing guests with ease of access to local sightseeing and cultural exploration. The Royal Botanical Gardens, the world-famous Museo Nacional Del Prado and Madrid’s largest railway station and hub of the high speed train network AVE are also nearby.
Regionally inspired food and beverage offerings will be available on-site, as well as a Constant Grind coffee bar and the brand’s signature restaurant, Sessions. Guests will enjoy photo-worthy panoramic views of the Spanish capital from the Rooftop Bar and Terrace, featuring a luscious open-air urban garden.
ASG acquired the site of the soon-to-be hotel when it was a municipal office building, and is leading an extensive €25 million programme to reposition it as an upper upscale 4 plus star hotel. Brian Betel, Managing Partner of ASG Iberia Advisors, said, “This is a classic ASG investment. We saw that this office building had far more untapped potential as a hotel given its proximity to Madrid’s major attractions, business center and shopping quarter. We are unlocking that value for our investors and Hard Rock Hotels’ unique brand will make an exciting contribution to the area. Selecting such a distinguished operator as Hard Rock Hotels is a major step forward in our business plan for this asset and our broader strategy in Spain. Our choice of Hard Rock stems from its renowned brand, its experience as an operator and its international reach.”
ASG & GRI Club
ASG is a GRI Club España member. ASG is a Jersey-based real estate investment manager focused on Germany and Spain. The group was founded in 2007 by Saul Goldstein after he left Cerberus, where he held a variety of senior roles. ASG currently has five discretionary closed-end real estate funds under management with a combined initial equity commitment of €1.5 billion. ASG funds invest in high quality properties and real estate-backed businesses with significant unrealized potential. Through hands-on asset management by its local teams, ASG repositions properties so that they generate the stable cash flows that appeal to prospective institutional buyers. ASG is regulated by the Jersey Financial Services Commission.
Information source: Hard Rock