easyHotel Malaga: A Successful Sale for EXTENDAM

EXTENDAM announces the sale of the real estate and business assets of the easyHotel Malaga, a 146-room budget hotel located in the city center, directly opposite Malaga train station (Andalusia).

EXTENDAM’s investment, initiated in April 2017, involved acquiring land to build a budget hotel under the easyHotel brand. The property features 146 rooms, 30 parking spaces, and a 300 m² ground-floor retail space intended for lease.

Since the hotel’s opening in the second half of 2020, Continuum Hospitality Group—operator of the hotel and long-standing partner of EXTENDAM—has implemented a dynamic revenue management strategy. This has enabled the hotel to optimize its average daily rate without compromising its occupancy rate. Now on a strong growth trajectory, easyHotel Malaga has become a flagship asset in the city within its category.

This transaction was initially supported by EXTENDAM’s investment vehicles Stratégie Hôtel Capital and Stratégie Hôtel Rendement.

“Spain is a particularly attractive country for the hospitality sector, as evidenced by our regular investments there. A cultural hub and modern city, Malaga continues to attract increasing numbers of business and leisure travelers each year. In this context, easyHotel Malaga has successfully found its market and achieved excellent operational performance. True to our value-add investment strategy in hotel real estate and business assets, this operation delivered an IRR and cash-on-cash multiple above our initial expectations,” said Jean-Marc Palhon, President of EXTENDAM.