Industry news

Amancio Ortega buys a luxury hotel in New York

Be one of the richest men in the world It makes your standard of living totally different from the rest of mortals - obviously. And so it shows us Amancio Ortega this morning after knowing that you have just acquired a hotel in one of the most expensive areas of New York for more than 61 million euros.

Located at 70 Park Avenue, this building dating from 1928 is currently managed by the Iberostar chain. With this purchase, the businessman shows his intention to continue expanding his real estate empire, but it is not the first time that his private real estate company, Ponte Gadea, has a building in the Big Apple. Among all its operations are:

  • 2006. He took a property in Manhattan on 59th Street. Price: 107 million dollars.
  • November 2006 A property on Madison Avenue. Price: 115 million
  • 2013. Acquire a property at 418 West on 14th Street.
  • January 2016 Haughwout building (Broadway) built in 1857. Price: 140 million
Image of the interior of the hotel

In addition to New York, Amancio Ortega's business has properties in Spain, Milan, London, Paris and even in Miami. What do you think of this new acquisition?

In Jared | Inditex continues its ascent and multiplies by eight its stock market value since its entry in 2001