BARÇA star player Gerard Pique’s family investment company has secured a deal worth around €50 million to build a five-star hotel in a prime Malaga location.
The luxury hotel will occupy the site of the Old Andalucia cinema, which according to reports in Spanish media was sold to the family company for €20 million by Inversiones y Acquisiciones de Hoteles SL,
The construction of the luxury hotel will be overseen by the Barcelona footballer’s father, Joan Pique Rovira, president of the family business since 2009.
Once complete, it will be operated by the Melia chain, which currently has 374 hotels in 40 different countries.
Pique created his business to diversify his investments, with the objective of ‘acquisition, holding and administration of all kinds of moveable securities’. It operates under the umbrella Kerad Holding.
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