Spain’s Nargam Buys Into Argentina Hotel Boom

Spanish group Nargam has decided to buy into the boom in Argentina of luxury boutique hotels by acquiring Compania Hotelera Argentina which owns the recently renovated five-star 725 Hotel (former Hotel Continental) in Buenos Aires. Nargam paid $4.5 million for 96.3% of the company’s capital and has taken on its debt amounting to $7.6 million.