Azora, the Madrid-based real estate investment manager, has recently expanded its hospitality portfolio by acquiring Jacobs Inn Dublin and Jacobs Inn Barcelona. Both properties, formerly administered by Siggis Capital and now to be managed by Azora’s subsidiary Latroupe, add a total of 85 keys and 557 beds to its burgeoning hospitality collection. The transaction marks Azora’s entrance into Ireland’s market and solidifies its presence in Barcelona, reinforcing its unique hospitality strategy that integrates 4-star hotel service with the social dynamics of premium hostels. Azora, active in the European hospitality and leisure sector since 2011, has steadily grown its footprint, acquiring over 100 hotels with more than 26,000 keys and investing upwards of 3 billion euros. With the launch of its first hospitality-focused private equity fund, AEHL, in 2021, Azora channels significant capital towards value-add strategies and active management in hotel operations. The recent acquisitions are part of an ‘alternative hotel strategy,’ seeking to reshape urban tourism for travelers regardless of age. The advisory team for this transaction included industry heavyweights such as Pinsent Masons, KPMG, Arcadis on Azora’s side, and JLL, Colliers, Matheson LLP, CMS, and PwC for BlackRock. Azora’s intentions, as articulated by founding partner Concha Oscar, are to harness these urban acquisitions to expand Latroupe’s brand across Europe, concentrating on vibrant and touristic city centers. Latroupe, led by Managing Director Carlos Cano, is keen on further growth through new asset acquisitions and management agreements, with an eye towards enhancing the local experience for travelers.

Real Estate Investment, Hospitality,Ireland, Spain, Barcelona

https://www.azora.com/en/blog/azora-acquires-two-urban-hostels-in-dublin-and-barcelona/