Harry Mohinani ponders sale of Madrid’s Hotel W

Sindhi businessman Harry Mohinani is open to selling his Hotel W Canalejas, in Spain. As explained to Spanish newspaper Expansion, their «business model is to buy when no one else is doing it» and although very happy with this Canalejas project, they «might consider selling it if the price is right«.

Mohinani and Dino Gidwani purchased the property in 2014, when it was known as the Hotel Asturias, and the new hotel plans to open its doors in 2020. It will compete against the Four Seasons in the heart of Madrid which is undergoing one of the city’s most important refurbishment projects, the Centro Canalejas Madrid. The project is being led by Grupo Villar Mir, OHL Desarrollos & Mohari and entails the refurbishment of seven historic buildings in different styles to create a splendid complex that will be a landmark of state-of-the-art leisure and tourism.

Marriott’s»W» brand offers experiences in some of the world’s most lust-worthy resort destinations in a wildly different way enabling visitors to escape the everyday and step into the unknown.

Platinum Estates is very active in the Spanish hotel sector and last June, Marriott International announced the opening of Aloft Madrid Gran Vía, the company’s first Aloft branded property in the buzzing city of Madrid. Owned by Harry Mohinani’s Platinum Estates, the hotel is located on Calle Jacometrezo, 4 and will have 139 rooms.