SCPI Atream Hôtels, managed by asset manager Atream, has taken a fresh step in its pan-European expansion. It has announced the acquisition of a 216-room, 4-star hotel in L’Albir, on Spain’s Costa Blanca, together with the signing of a 15-year firm lease handed to Pierre & Vacances for its operation.
The deal marks the SCPI’s entry into the Spanish market, its sixth country of investment after France, Germany, Belgium, the Netherlands and Italy. It continues a strategy of geographic diversification and long-term support for major tourism operators in their European growth.
A first foothold in Spain for the sector’s leading SCPI
Founded in 2016, Atream Hôtels describes itself as the pioneering, capitalisation-leading SCPI for tourism investment in Europe. Grégory Soppelsa, Executive Chairman and co-founder of Atream, said the investment fully illustrates Atream Hôtels’ development strategy, built on ten years of experience and track record, and grounded in sourcing well-located hotel assets in Europe’s leading tourist markets, operated under long-term leases by top-tier operators.
He added that the deal was designed to combine asset quality, partner quality, structuring intelligence and value-creation potential. For her part, Mathilde Krieger, Deputy Managing Director for Savings, in charge of the retail funds, said this was the SCPI’s third acquisition in a matter of months, confirming its investment momentum and its ability to deploy capital raised efficiently on behalf of its unitholders.
L’Albir, a strategic location on the Costa Blanca
Located in the heart of L’Albir, a popular seaside resort in the province of Alicante, the hotel benefits from a year-round tourist environment, drawing both national and international families and couples. Close to the town centre and the beach, it is well positioned for both leisure and business travellers.
The 4-star hotel has 216 air-conditioned rooms with balconies and offers a restaurant, a bar, a rooftop bar, a swimming pool, a wellness area and meeting rooms. It will undergo a €2.7 million renovation programme aimed at improving the guest experience and the quality of its facilities.
Pierre & Vacances strengthens its presence on the Spanish coast
The acquisition was carried out jointly by Atream, which owns the property, and Pierre & Vacances, which will operate it through a separate business entity. The signing of a 15-year firm lease with the group, a European leader in tourist accommodation, gives the SCPI long-term rental visibility.
With this new address, Pierre & Vacances now operates six properties along the coast between Valencia and Alicante, one of Spain’s most touristic areas and one the group knows well.
An SCPI in full pan-European expansion
The acquisition follows those of two hotels in Berlin and Verona, bringing the number of assets held by Atream Hôtels to 24, plus one equity stake. Having consolidated its positions in France, Germany, Belgium, the Netherlands and Italy, the SCPI has taken a further step with this first entry into Spain, Europe’s leading market for international tourism receipts, which generated €135 billion in 2025 according to Spain’s Instituto Nacional de Estadística.
SCPI Atream Hôtels was advised on the deal by Colliers, by law firm CMS – via partner Javier Colino – and by CBRE’s technical teams.
A 24-asset portfolio and a targeted strategy
With a capitalisation close to €330 million, Atream Hôtels now brings together 24 hotel assets plus one equity stake spread across six European countries. The SCPI draws on the expertise of Atream, an asset management company approved by the AMF with close to 20 years of experience in tourism and hospitality, which points to a rigorous asset selection process and deep knowledge of the European tourism market.
The investment strategy targets primarily 3- and 4-star hotel assets located in high-footfall tourist areas in France and across Europe, backed by long-term leases with top-tier operators. The group also frames its management within an SRI approach based on ESG criteria.
At a glance by The Hospitality Tribune
Atream Hôtels enters Spain with a first Costa Blanca acquisition leased to Pierre & Vacances
4-star, 216-room hotel acquired in L’Albir (Alicante), Costa Blanca
15-year firm lease signed with Pierre & Vacances
Spain becomes the SCPI’s 6th country, alongside France, Germany, Belgium, the Netherlands and Italy
Portfolio now totals 24 hotel assets plus one equity stake, worth close to €330 million
€2.7 million renovation programme planned for the property
Deal advised by Colliers, CMS (Javier Colino) and CBRE
