The new life of the hotel that watches over Barcelona from Tibidabo

BarcelonaThe former Gran Hotel La Florida, where Bruce Springsteen always stays when he has a concert in Barcelona, ​​is beginning a new chapter after years of hardship. Under the ownership of Lebanese investor Joseph Boutros El Khoury, who bought it in late 2010 in partnership with Joan Gaspart, it had accumulated millions in debt and losses, with more than one sale attempt failing. This continued until Atom Hoteles, Spain's first REIT to own hotels, acquired this luxury Tibidabo establishment, which was in bankruptcy proceedings, in early 2024, along with the Miramar Hotel, for 50 million euros.

"We'd been pursuing these hotels for a long time; they were isolated from the city and struggling financially. It was a shame because they're two gems. Many people were telling us: buy now. One because he'd celebrated his wedding here, and the other because he'd come for a party. Martí, from the suite that Springsteen often books, who a few years ago saw film director Steven Spielberg start playing guitar in front of the singer... And former US President Barack Obama. One of the many anecdotes shared by the hotel's employees, who also remember the months they went without pay due to previous mismanagement.

But Atom had to find a partner. In the room, which has a jacuzzi with a view of all of Barcelona, ​​he's accompanied by the CEO of Sunset Hospitality Group, Antonio González, with whom he finally decided to embark on this new chapter. "We received many offers, more than ten, from chains like Marriott and Hyatt, but they were all more of the same." They thought Florida was very good, but they had some reservations. Until we met Sunset Hospitality Group: where others saw difficulties, they saw strengths,” Martí points out. They immediately had a “very good” feelingAnd they reached an agreement. They did it in less than a month.

With ownership in the hands of Atom, Sunset Hospitality, a Dubai-based group specializing in the management of hotels, restaurants, and resorts, handles the day-to-day operations of the five-star hotel. After a joint investment of 15 million euros, the establishment reopened its doors last September, completely renovated, but maintaining the essence that its seventy rooms have accumulated over more than a hundred years, during which it has witnessed all sorts of events: it became a military hospital during the Civil War and was even abandoned between the late seventies and early 1970s. It has hosted not only Spielberg, but also legends like Ernest Hemingway, James Stewart, and Rock Hudson.

"We've had a good winter," says González, hoping that business will pick up again from March onwards, when Barcelona's high season kicks off. Isolated from the city and surrounded by nature, the Tibidabo hotel has not only undergone a renovation physicsBut it has also launched a new name. Although everyone knows it as Florida, Sunset Hospitality has renamed it METT Barcelona, ​​its five-star hotel chain that already has a presence in Marbella and will arrive in Sitges this summer. It also has projects underway in Alicante and Ibiza, in addition to hotels in Italy, Turkey, and Singapore.

A REIT with a Catalan accent

With the acquisition of Boutros El Khourym, Atom Hoteles also took over the five-star luxury Hotel Miramar. Located in the heart of Montjuïc, it was initially built as a restaurant for the 1929 International Exposition. Later, between 1959 and 1983, it housed RTVE's studios in Catalonia before they moved to Sant Cugat del Vallès. The REIT has invested €20 million in renovating this property. The work is expected to be completed this month so that it will be ready for the Mobile World Congress (MWC). "We're already fully booked for the trade show," says Martí. Although it was initially rumored to be under the Hyatt brand, it will ultimately be associated with the US group Preferred Hotels & Resorts. When both hotels are fully operational, they will employ around 200 people during peak season.

Atom Hoteles is headquartered in Madrid, but its founder, born in El Perelló, has a strong connection to Barcelona, ​​where he has been involved in the opening of hotels such as the W and the Sir Victor. Founded in 2018, the REIT was promoted by Bankinter Investment—the bank's investment banking subsidiary—and the real estate asset manager GMA Capital to invest in four- and five-star hotels. Atom pools the capital of 800 families, including football players, who want to "invest for the long term." "We're not the typical investors who come in, buy, renovate, and sell. We're not speculative capital, but productive capital," argues its founder and CEO. At the end of 2025, the investment vehicle closed with a valuation of approximately €886 million for its portfolio of 23 hotels. In Catalonia, it also owns the Ilunion Les Corts hotel in Barcelona and the AC Baqueria Ski Resort, but the majority of its hotels are located in the Canary and Balearic Islands.