Algeria is seeking to sell the El Palace hotel in Barcelona for around €100 million after taking ownership of the property in October 2025 as part of efforts to recover embezzled assets. Spanish media, including El Confidencial, reported on April 16 that authorities are actively looking for buyers.
The five-star establishment was originally purchased in 2011 by former Algerian oligarch Ali Haddad for approximately €80 million. Following legal proceedings tied to corruption cases, the property was transferred to the Algerian state, which is now aiming to recoup misappropriated public funds through its sale. According to local media reports, officials have already begun sounding out international investors and funds capable of meeting the expected valuation.
Located in central Barcelona, El Palace is one of the city’s oldest luxury hotels, having opened in 1919. The property spans more than 12,500 square meters across multiple levels and offers panoramic views of the Catalan capital. It includes 125 rooms, several high-end suites, and multiple reception lounges, catering to a wealthy international clientele. The hotel underwent a major renovation in 2017 and is known for its classic design and historical ties to prominent figures in the arts.
Room rates reflect its luxury positioning, with standard rooms starting at nearly €500 per night and premium suites reaching up to €5,000. The hotel’s dining experience is led by Spanish chef Rafa Zafra, with a focus on seafood cuisine, further enhancing its appeal among high-end visitors.
The hotel has historically been managed by the Husa group, owned by former FC Barcelona president Joan Gaspart. Its potential sale is part of broader efforts by Algerian authorities to recover assets linked to corruption cases from the previous decade. During a cabinet meeting on April 5, President Abdelmadjid Tebboune highlighted ongoing international cooperation, thanking Spain and Switzerland for their role in asset recovery efforts. He also noted that Algeria expects to recover more than $110 million through proceedings initiated in Switzerland.
The outcome of the El Palace sale could mark a significant step in Algeria’s campaign to reclaim public funds and reinforce financial accountability.
Sami B. is the founder and editor of Algeria News Gate, an independent English-language platform covering Algeria’s political, economic, and business developments. Based in Europe, he reports on official announcements, economic trends, and international relations involving Algeria.