madridTHE most expensive hotel deal in Madrid’s history has been wrapped up.

Colombian businessman Jaime Gilinski has acquired the Hotel Villa Magna for a whopping €190 million.

The sale of the five star resort is now the most lucrative in the capital, surpassing the €130 million paid for the Ritz hotel by Saudi group Olayan Mandarin earlier this year.

Gilinski is the main shareholder of Sabadell and the second richest man in Colombia.

Hotel Villa Magna has 150 rooms, including suites of 290m2.