The Portuguese SODIM group owned by businessman Pedro Quieroz Pereira has sold Hotel Villa Magna in Madrid to Dogus, a Turkish group, for €180m. Described by the daily El Pais as one Spain’s most luxurious hotels, it is located in the popular Paseo de La Castellana neighborhood of Madrid. The 5-star Hotel Villa Magna has 150 rooms is the venue for frequent gala events and counts Spain’s most distinguished members of society among its regular clients. SODIM bought the hotel in 2001, carrying out restoration works between 2007 and 2009. In Portugal, SODIM owns another luxury hotel, the Ritz Four Seasons, in Marquês de Pombal (Lisbon).
