RIU Hotels & Resorts has acquired the property currently operating as Grand Hyatt Barcelona, with plans to assume management on 1 April 2027. The 465-room hotel, historically known as Hotel Princesa Sofia, will become the group’s first hotel in Barcelona and the fourteenth property in its Riu Plaza urban line.
RIU confirmed the purchase from Blasson Property Investments and BNP Paribas Asset Management Alts on 30 October. Its announcement did not disclose a transaction price. The hotel is not yet operating as a Riu Plaza.
Grand Hyatt Barcelona enters a new ownership chapter
The hotel occupies a 19-storey building in the Les Corts and Pedralbes area, near Avinguda Diagonal and Camp Nou. RIU identifies its location and substantial meetings and events facilities as important features of the acquisition.
The official timetable sets 1 April 2027 for RIU to take over management. RIU has not announced the property’s new name or a detailed transition programme.
The property’s identity has changed over time. CoStar reports that the sellers acquired it in 2023 when it was known as Hotel Princesa Sofia, before a renovation and repositioning as a Grand Hyatt. The hotel originally opened in 1975.
A long-standing Barcelona ambition
Chief executive Luis Riu said the company had spent more than a decade seeking the right opportunity in Barcelona. He linked the acquisition to the urban strategy launched with Riu Plaza in 2010 and to the group’s experience with its Madrid property.
That makes the transaction a city expansion rather than an addition to RIU’s traditional holiday resort business. The company already has urban hotels in markets including London, New York and Chicago, and Barcelona adds another established international destination to that portfolio.
For the incoming operator, the opportunity includes both overnight accommodation and an existing events business. CoStar reports almost 40,000 square feet of meeting and event space, as well as 49 suites and a penthouse within the hotel’s accommodation offer.
Keeping the transaction value in perspective
Iberian Property reported a value above €300 million. RIU has not confirmed that figure.
The confirmed commercial facts are the purchase, the named sellers, the property’s scale and the future management date. RIU said aCapital acted for the buyer, with Eastdil and Colliers advising the seller.
RIU has not disclosed a refurbishment budget or performance targets.
Transition matters for the operating business
For now, RIU has achieved the ownership step in a market it says has been a strategic priority for years. The next visible milestone is the planned April 2027 management change, when the property is due to join the Riu Plaza portfolio.
