Investment firms Tikehau Capital, based in Paris, and Quest Capital, based in Lisbon, have secured alternative financing from Maslow Capital to launch their new integrated operator, Selecto. The platform specifically targets select-service urban hotels, a segment seen as promising in the Iberian market.
An initial portfolio of four projects, located in Madrid, Malaga and Barcelona, represents a combined gross development value exceeding €200 million. Selecto was founded in June under a franchise agreement with IHG Hotels & Resorts, to develop new-build properties under the Holiday Inn Express brand in Spain and Portugal.
IHG signed franchise agreements for three of these hotels on 30 June: the 259-room Holiday Inn Express & Suites Málaga Palacio de Congresos, the 244-room Holiday Inn Express Madrid Julián Camarillo, and the 150-room Holiday Inn Express Barcelona Fira. The Madrid property is the first Selecto platform asset to enter construction, in the coming months.
Maslow Capital’s financing will also support a second Madrid hotel, to be built in the Las Tablas district of the Spanish capital. A second growth phase is already being planned, with Selecto and IHG projects in Bilbao, Seville and Valencia, as well as in Lisbon and Porto in Portugal. All of these properties will be signed under IHG franchise.
Quest Capital is itself a recently formed structure, born of a partnership between Spanish company Albatross Capital and Portuguese partner Quantico SA, officially launched in June 2026. Beyond hospitality, Quest Capital also plans to invest in residential and private rental housing, commercial real estate and the agricultural sector.
Emilio Silvestre, Managing Director of Maslow Capital for Spain, said the urban hotel segment offered attractive opportunities in the country, driven by a combination of demand, growing sector professionalisation and scalable operating models. He added that Selecto brought together several of the qualities Maslow Capital looks for in its partners, namely a clear strategy, leading operators and projects with long-term potential.
This financing forms part of a series of recent deals by Maslow Capital in the European hotel market. In May 2026, the lender provided €54.2 million in financing to SCIO Capital for a hotel project in Dublin, a 235-room property in the Liberties district destined for operator Ascott International, as part of the rollout of its Lyf brand across major European capitals.
In June 2026, Maslow Capital also advanced €21.3 million to support the development of a new hotel in Cork, Ireland, led by developer JMK Group. This 103-room extended-stay property, blending Georgian heritage with a modern extension, has already been signed by Hilton under its Tapestry Collection brand.
These deals nonetheless remain more modest in scale than the £294 million financing granted by Maslow Capital in January 2026 to borrower Criterion Capital, intended for the acquisition of the remaining elements of the St Giles Hotel in London and the refinancing of the Haymarket House redevelopment. This latter project will give rise to a new hotel under the Zedwell brand, with 508 rooms dedicated to compact, budget-friendly accommodation, highly sought after by visitors to the British capital.
===AT_A_GLANCE===
At a Glance
Tikehau Capital & Quest Capital launch Selecto hotel platform – New operator: Selecto, franchise agreement with IHG Hotels & Resorts (Holiday Inn Express) – Funding partner: Maslow Capital (alternative lender) – First portfolio: 4 projects in Madrid, Malaga and Barcelona – Combined gross development value: €200M+ ($228M) – First franchise signings (June 30): Holiday Inn Express & Suites Málaga Palacio de Congresos (259 rooms), Holiday Inn Express Madrid Julián Camarillo (244 rooms), Holiday Inn Express Barcelona Fira (150 rooms) – Phase 2 pipeline: Bilbao, Seville, Valencia (Spain); Lisbon, Porto (Portugal) – Quest Capital: joint venture of Albatross Capital (Spain) and Quantico SA (Portugal), launched June 2026
