A change of hands has occurred at one of New York's most luxurious hotels. Manuel Lao, through his holding company Nortia Capital, has acquired The Ritz-Carlton Hotel in Central Park. The purchase, for an undisclosed sum, was made in partnership with the Mazabi fund and the private banking firm Panghea Capital, both based in Madrid. With this acquisition, the Spanish consortium now holds a 45% stake in the hotel, a share previously owned by South Korea's sovereign wealth fund, the Korea Investment Corporation. The hotel will be managed by the investment group Gencom, which has acquired the remaining capital, and will retain the premium Ritz-Carlton brand. For Nortia's president, Manuel Lao, this acquisition "represents a significant step" in his company's strategy. family office. "It's an exceptional asset, both for its location and its operational strength. We are very pleased to carry out this transaction with partners with whom we share a long-term vision," remarked Lao, the third richest man in Catalonia and former owner of Cirsa, which he sold to the American giant Blackstone for more than 2 billion euros. Nortia has stakes in Merlin and Sacyr, real estate investments such as the building on Passeig de Gràcia in Barcelona that houses Casa Seat, and the Pulitzer hotels. It also acquired casinos and resorts in Latin America, which did not sell to Blackstone.

Manuel Lao has decided to divest his stake in the construction company Sacyr. One of Catalonia's wealthiest men and former owner of the Cirsa gaming empire has sold his 5.12% stake in Sacyr for €150.8 million. The transaction was carried out through a placement among investors at €3.70 per share, as reported to the Spanish National Securities Market Commission (CNMV).

It's been over a year since the Catalan gaming empire Cirsa reactivated its efforts to go public, and now these intentions have a date. The company—owned by the US fund Blackstone—announced its entry into the stock market this Wednesday, with trading scheduled for July.