How the upscale Palace Hotel in Barcelona became a hideout for Algerian regime’s money laundering
This report discusses the transformation of the luxury "Palace" Hotel in Barcelona, which was opened in 1919 and was known as the "Ritz" Barcelona, into a hideout used by the Algerian regime's men to smuggle and launder money. This occurred especially after it was acquired by Algerian businessman Ali Haddad in 2011. Although Algerian authorities announced the recovery of the hotel as part of efforts to recover assets outside Algeria, the facts suggest that the operation was more of a financial settlement with Haddad through a "deferred payment" mechanism rather than a direct judicial confiscation. It is considered part of a broader network of investments by businessmen linked to Bouteflika's regime. Additionally, investigations and the highlighting of evasion and judicial inquiries reveal that many financial and real estate assets belonging to the Algerian political and economic elite— including hotels and properties in Spain— remain under scrutiny. There are ongoing disagreements regarding the transparency of the legal and financial recovery processes.
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