• Hilton Hotel Valencia sold to CPI

Sol Meliá Hotels and Resorts is to take over the management of the Hilton Hotel Valencia after the hotel was sold to Continental Property Investment for an undisclosed sum.

The Paris-based investment company acquired the site from administrators, with Eurohypo the largest creditor to owner Commercial Hotel Palacio de Congresos SL. Chris Day, international MD at Christie & Co, which acted for Eurohypo and the administrators, said: "As trading performances continue to improve across Spain the demand for such assets will continue to grow."

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