Spanish property company Rayet and hotel company In Hotels & Real Estate have set up a joint venture to invest more than EUR 350 mln in luxury hotels in major European cities. A Rayet spokesperson told PropertyEU that the company is planning to develop or acquire five-star hotel sites in capital cities such as London, Paris, Madrid, Rome, Berlin and Barcelona. 'We haven't as of yet identified particular sites, but we are considering several options at the moment,' the spokesperson said.
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