Activum SG Capital Management Ltd. (ASG Capital), a Jersey-based real estate fund manager, has agreed with hotel operator Hampton by Hilton to build a new hotel project in Fira de Barcelona, Spain.
The project will cost a total planned investment of around 40 million euros ($45.2 million).
The construction work has already begun and will be completed in the first quarter of 2021.
The new hotel, which will have 242 rooms, will be operated under a franchise deal with Borealis Hotel Group, a Dutch-based hotel investment, development and management company.