Tikehau Capital, a global alternative asset management firm, has launched Selecto, an initiative designed to develop a select-service hotel platform in Iberia and contribute to the professionalization of a hotel segment characterized by strong structural demand and significant transformation potential in the Iberian market.
The platform begins with an initial portfolio of four development projects in Madrid, Málaga, and L’Hospitalet de Llobregat (Barcelona), marking the start of its deployment across Iberia. The projects benefit from senior financing provided by Maslow Capital as the financial partner for this initial portfolio. The initiative is being developed in partnership with Quest Capital, which acts as operating partner and brings its expertise in hotel asset development and management.
Investment in Selecto is structured through Tikehau Capital’s second value-add real estate vehicle, classified as an Article 9 fund under the European Sustainable Finance Disclosure Regulation (SFDR), ensuring that stringent sustainability and energy efficiency criteria are embedded from the outset in the design and development of the assets.
The four initial hotels represent an investment of more than €150 million and form the foundation on which Selecto aims to build a significant portfolio of select-service hotels across Iberia, with a total target investment of approximately €300–350 million.
As part of this strategy, the platform includes a franchise agreement with IHG Hotels & Resorts to implement the fifth-generation Holiday Inn Express brand across the assets within Selecto. This partnership combines a globally recognized brand and its distribution network with specialized local execution, strengthening the positioning of the hotels within the select-service segment.
The four initial projects are located in strategic urban areas selected for their strong demand fundamentals and their potential to support a new generation of select-service hotel assets. The portfolio comprises two hotels in MadBit and Las Tablas (Madrid), a development near FYCMA in Málaga, and another in L’Hospitalet de Llobregat (Barcelona), close to Plaza Europa and Fira.
The first project, located in MadBit, has already entered the construction phase, marking the beginning of the platform’s operational rollout. For this development, Tikehau Capital has appointed ALDARA Construcciones e Infraestructuras as construction company and Ayesa as project manager.
The platform plans to continue its gradual expansion into urban locations with strong demand fundamentals across Iberia, with particular interest in cities such as Valencia, Seville, Bilbao, Lisbon and Porto, in addition to Madrid and Barcelona.
The hotel platform is based on an investment thesis focused on the select-service segment, a model characterized by operational efficiency, an optimized cost structure, and its ability to serve a broad demand base combining business and urban leisure travelers. In Iberia, this segment offers significant room for development and transformation, creating opportunities to foster a new generation of modern, efficient assets managed under international standards. Selecto aims to contribute to the modernization of the urban hotel supply through developments aligned with current standards of efficiency, sustainability, and guest experience.
“Iberia has established itself as one of the most dynamic tourism markets globally, with sustained demand in both urban tourism and business travel. The launch of Selecto reflects our conviction in the potential of the select-service segment in Iberia. It is an efficient and resilient hotel model with strong structural demand, offering a clear opportunity to develop modern assets managed under international standards,” said Emilio Velasco, Head of Real Assets Iberia & Global Co-Head of Real Estate Acquisitions at Tikehau Capital.
“Selecto combines institutional capital, a strong international brand, and an efficient operating model, enabling the development of select-service hotels tailored to current demand in major Iberian cities. At Quest Capital, we bring our experience in hotel development and asset management to support the platform’s growth in the market,” said Quest Capital.
“Holiday Inn Express combines a globally recognized brand with an efficient operating model, making it particularly well suited for the select-service segment in cities with strong demand from both business and leisure travelers,” said IHG Hotels & Resorts.
“As a lender specialized in complex real estate projects, our goal is to support initiatives with a clear strategy and proven execution partners. Selecto meets these criteria and represents exactly the type of platform we aim to support in the Iberian market,” said Emilio Silvestre, Managing Director of Maslow Capital Spain.
About Tikehau Capital
Tikehau Capital is a global alternative asset management group with €53 billion in assets under management as of 31 March 2026. The Group has developed expertise across four asset classes: credit, real assets, private equity, and capital markets strategies.
Leveraging its strong equity base of €3.1 billion as of 31 December 2025, Tikehau Capital invests its own capital alongside that of its investor clients.
The Group is driven by a strong entrepreneurial spirit, shared by its 723 employees as of 31 March 2026, across 17 offices in Europe, Asia, and North America.
About Quest Capital
Quest Capital is a real estate investment platform specialized in residential, hospitality, and mixed-use assets. The company combines discretionary investment capabilities with institutional partnerships to originate, develop, and manage real estate projects in Portugal and Spain. Quest Capital currently manages over €1.5 billion in assets, and its leadership team has been involved in more than €20 billion of institutional real estate investments over the past 25 years.
About IHG Hotels & Resorts
IHG Hotels & Resorts (tickers: LON: IHG for ordinary shares; NYSE: IHG for ADRs) is a global hospitality company with a purpose of delivering True Hospitality for Good.
With a family of 21 hotel brands and IHG One Rewards—one of the world’s largest hotel loyalty programs with more than 160 million members—IHG operates over one million rooms across 7,000 hotels in more than 100 countries, with a development pipeline of over 2,300 properties.
Luxury & Lifestyle brands include Six Senses, Regent, InterContinental, Vignette Collection, Kimpton, Hotel Indigo. Premium brands include voco, Ruby, HUALUXE, Crowne Plaza, EVEN. Essentials include Holiday Inn Express, Holiday Inn Hotels & Resorts, Garner, avid. Suites include Atwell Suites, Staybridge Suites, Holiday Inn Club Vacations, Candlewood Suites. Exclusive Partners include Iberostar Beachfront Resorts.
InterContinental Hotels Group PLC is incorporated in England and Wales. Approximately 400,000 people work across IHG hotels and corporate offices worldwide.
About Maslow Capital
Maslow Capital is a leading pan-European real estate finance provider with a track record of financing more than €10 billion in real estate projects. With local offices in eight countries, Maslow combines on-the-ground origination with pan-European underwriting and structuring capabilities. The platform provides loans ranging from €2 million to €750 million across a wide range of asset classes.
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