Eurazeo Closes Sale of Interest in Three InterContinental-branded Hotels in Spain

Eurazeo (RF.PA) said Thursday it completed the divestment of its interest in a portfolio of three hotels in Spain bearing the brands of hotel company InterContinental Hotels Group (IHG.L). Through its real estate strategy, the French investment group sold its stake in FST Hotels to hospitality-focused private equity firm Extendam. The portfolio comprised hotels in Madrid and Barcelona, with 543 rooms in total. Eurazeo's pan-European hotel platform, Grape Hospitality, will continue to operate the hotels following the sale.