Zara Billionaire Ortega Buys Hotel in Paris for $113 Million

la Nacion

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Amancio Ortega, founder and first shareholder of Inditex, a fashion distribution company, including the Zara, Bershka, Massimo Dutti and Pull&Bear brand, extends its portfolio of investments in France and recently closed the purchase of a hotel in Paris for €97 million. According to Forbes, this is the Banke Hotel, a property located in a historic building, which he bought through his investment arm Pontegadea from the Spanish chain Derby Hotels…

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The multimillionaire of fashion Amancio Ortega bought the Hotel Banke in Paris 113 million dollars, the second acquisition of property of the founder of the Zara brand in the French city in the last year.Pontegadea, Ortega's family office, acquired the building of Derby Hotels, according to a spokesman of the Spanish firm, confirming an article of the newspaper Expansión.The five-star hotel is located in the center of Paris, near the Palacio Gar…