Ayesa Engineering strengthens its position in the hospitality sector by leading new Holiday Inn Express hotel projects for Tikehau Capital and Quest Capital

• Construction has now begun in Madrid on the first property, comprising 244 rooms and designed to meet high standards of sustainability and energy efficiency.
• Ayesa Engineering demonstrates its ability to manage multiple projects simultaneously, particularly for investment funds and SOCIMIs.

03 Sept 2026. Ayesa Engineering has been appointed project manager for the development in Spain of Selecto, the select-service hotel platform backed by Tikehau Capital, a global alternative asset manager. Quest Capital acts as the platform’s operating partner in Iberia. The first of these properties, now under construction in Madrid, is being developed as a strategic pilot to define and standardise the management principles for the rest of the asset portfolio.

The select-service hotel segment continues to consolidate its position as one of the most resilient areas of the European hotel market, thanks to its ability to attract both corporate and leisure demand, maintain stable occupancy levels and offer efficient operating models.

The Selecto platform, backed by Tikehau Capital together with Quest Capital, was established with an initial portfolio of properties in strategic urban locations. The first project is a 244-room hotel being developed in Madrid’s MadBit technology district and is set to become the largest Holiday Inn Express in Spain. The property is LEED Gold certified and has been designed to meet high standards of sustainability and energy efficiency, as well as the environmental criteria required by the European Union.

Ayesa Engineering will oversee the development of the asset from the initial stages through to its opening, ensuring efficient delivery, investment control and achievement of the project’s strategic objectives in terms of schedule, cost, quality and sustainability. The hotel is expected to open in the first quarter of 2028.

“This first project provides an opportunity to establish common processes for managing scope, schedule, costs and quality standards, while optimising investment across the hotel asset portfolio. Its development will be key to ensuring replicability, efficiency and alignment with the client’s strategic objectives,” says Miguel Tapia, Director of Real Estate at Ayesa Engineering.

He adds: “This contract further strengthens Ayesa Engineering’s position as a project manager in the hospitality sector and demonstrates our ability to manage multiple projects simultaneously, particularly for clients such as investment funds and SOCIMIs.”

Celia Zapata, Technical Director of the Hospitality segment at Quest Capital, explains: “Selecto was established with an initial portfolio of projects in strategic urban locations, including MadBit and Las Tablas in Madrid, the area surrounding FYCMA in Málaga, and L’Hospitalet de Llobregat, next to Plaza Europa and FIRA, in Barcelona. For the first of these projects, Tikehau Capital has appointed ALDARA Construcciones e Infraestructuras as the company responsible for project execution.”

The first four hotels within the platform represent an investment of more than €150 million and form the foundation for Selecto’s plans to build a significant portfolio of select-service hotels across Spain and Portugal, with a total target investment of between €300 million and €350 million.