El Corte Inglés will create its first hotel
What: El Corte Inglés has allocated EUR 6.8 million for the purchase of two buildings in Goya which it will use to develop a four-star complex with 113 rooms.
Why it is important: The retailer hopes that the complex will generate an additional EUR 2.5 million in income from the operation of the rooms.
The project has the support of the City Council as El Corte Inglés needed special approval to group two residential buildings which will be connected by stairs and corridors.
The new hotel complex will have 1,200 square meters with 113 rooms. The ground and first floors of both properties will retail their commercial use. The calculation of the investment to be profitable is within 20 years.