Photo of the hotel’s outdoor swimming pool.
Benidorm hotelier Toni Mayor, owner of Ona Sol and Port Hotels, has bought the Tryp Valencia Feria Hotel in front of the city’s congress venue, Feria Valencia. The vendor was advised by Colliers.
From December onwards the hotel will be managed by the Port Hotels chain having previously been managed by the vendors under a franchise contract with the Tryp by Wyndham brand. The new hotel management company, Port Hotels, will conduct a rebranding of the hotel renaming it Port Feria Valencia. With 127 fully equipped rooms, the property includes an outdoor pool, parking and gym as well as 3 meeting rooms. With this acquisition, the Alicante-based hotel company reinforces its commitment to the city of Valencia, after having opened the Hotel Port Azafata Valencia in October of last year near the city’s airport.
According to Laura Hernando, Managing Director Hotels of Colliers International “the good performance of the hotel market, which registered a growth of overnight stays of + 2.9% in September, attracts interest from national and international investors who see Valencia as a destination with positive growth prospects, both in leisure tourism and in MICE tourism. In line with the trend experienced in recent years, hotel investment has flowed towards destinations such as Valencia, encouraged by signs of recovery and strength and with the added benefit of having less competition than other more prime destinations such as Madrid or Barcelona”
This transaction raises the number of hotel deals during 2019 in Valencia to 11 according to the Canada-based global real estate consultancy firm. In the first 10 months of 2019, the volume of investment in the city has exceeded €150 million of investment in both at hotels and residential reconversions, which is more than double the total investment registered in 2018 (€60 million).
For Port Hotels this investment corresponds to a bet on consolidating its City strategy. In the last three years, the chain has incorporated 6 non-vacation hotels all of them with four stars raising the company’s profile in the urban and MICE segments.