Pictet Alternative Advisors, an alternative investment division of the Swiss group Pictet, completed the acquisition of Expo Hotel Valencia from Selenta Group, an operator of a chain of hotels located in Spain. Financial terms were not disclosed. "This operation demonstrates the conviction we have, with respect to the Spanish hotel market, in value-added strategies, with repositioning of assets and search for operators and brands most convenient for their consolidation. The new Expo Hotel Valencia after a comprehensive renovation, following appropriate sustainability criteria and under a top-level international brand, will become one of the city's reference hotels," Pablo Granell, Pictet AA RE Manager for Spain.