The real estate market in Bilbao is showing significant dynamism. Nearly two and a half months after selling the five-star Meliá Bilbao hotel, the socimi Hotei Properties has transferred another top-tier establishment in the Vizcayan capital: the Radisson Collection, for 42 million euros.

This operation is consistent with the company's strategy to rotate «non-strategic» assets, focusing solely on luxury and ultra-luxury properties. According to company sources, this sale was «planned» within the socimi's roadmap. It has been sold to Invesco Real Estate, which will in turn transfer it to Sprea, the real estate wealth management division of Santander Private Banking.

The Radisson is one of Bilbao's four five-star hotels, alongside the Carlton, The Artist (formerly Dómine), and the Meliá. Additionally, two more hotels are planned for construction, one in the old Olabarri palace and another in the Alameda Mazarredo building.

The hotel on Gran Vía, located in one of the city's busiest areas, opened in March 2022 with 137 rooms. Since its opening, it has had a peculiar journey, having changed directors in this short period. Hotei Properties states that the hotel had no associated debt since March of this year, as the last payment was made two months ago, coinciding with its maturity. The operation has surprised the sector, as the company announced a 27% increase in its revenues in 2025, reaching 27.12 million euros.

The Radisson Bilbao, which is housed in a historic building erected in 1950, had long lost interest in Bilbao, considering it not a key location in the new business phase. Located at number 4 on the main artery, it will change hands but will remain under the management of the American firm Radisson. It features a gym, spa, and an indoor pool, while the restaurant service is managed by a three-Michelin-starred chef from Larrabetzu, with Eneko Basque, who has also reoriented his involvement. One of the major drawbacks for hotel guests is the lack of parking.