The holding company of the Fabre Luengo family, Bancalé, has bought the Hotel Rafael Atocha in Madrid for a reported €80 million, according to newspaper El Confidencial.
The property was part of the Reyal Urbis portfolio. Reyal Urbis filed for bankruptcy back in in 2013, with liabilities of more than €4.7 billion. At the time it was Spain's second-largest bankruptcy.
The hotel has 245 rooms, a gym, restaurant and meeting space with more than more than 1000 m2 of function rooms.