Zara's founder bought a five-star hotel in central Paris. The price is jaw-dropping.
In the world of fashion, investments don't stop at fabrics and runways. Amancio Ortega, the founder of Zara and the fast fashion giant, has also been investing in real estate for years. Now, the historic Hôtel Banke in Paris has joined his impressive portfolio.
Near the majestic Palais Garnier , in the heart of Paris , one of its architectural gems has found a new owner. The Hôtel Banke —formerly a bank headquarters, now a five-star hotel with a Belle Époque feel—has just landed in the hands of Amancio Ortega . The Spanish billionaire, creator of clothing brands such as Zara, paid €97 million (approximately 400 million złoty) for it.
Hôtel Banke in Paris sold for 97 million euros / photo: Facebook Hôtel BankeThis is Ortega's second investment in France this year, clearly indicating his increasingly bold move into the European real estate market. All this through his private investment firm, Pontegadea Inversiones , which manages a portfolio worth—a mere trifle—over €18 billion.
Hôtel Banke in Paris sold for 97 million euros / photo: Facebook Hôtel BankeAlthough best known for building the Inditex fashion empire, Ortega has been diversifying his assets for years. His portfolio includes prestigious locations: the flagship Tiffany & Co. boutique in San Francisco, the Torre Crespa skyscraper in Madrid, and the impressive Adelphi Building in London . Now, the Hôtel Banke joins this ranks – a luxury hotel with a history dating back to the early 20th century.
Experts say that for Ortega, it's not just about real estate—it's about strategy. Each purchase is not just an investment of capital, but also an investment in prestige and stability. As the Bloomberg Billionaires Index shows, Ortega is now not only the richest Spaniard but also a key figure in the European premium market.
