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19 July 2018
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Hispania purchases hotels portfolio from Alua

02 January 18 - RE+D Magazine
Hispania purchases hotels portfolio from Alua

COMPANIES

IBI Group

Consultant - GREECE

ETAD.A.E.

Public entity - GREECE

Savills

Consultant - GREECE

Solum Property Solutions

Consultant - GREECE

PEOPLE

Antulio Richetta

Director IBI Group
Hispania has signed a purchase option with Alchemy; European private equity firm and investor in special situations, for the acquisition of seven hotels of the chain Alua Hotels & Resorst for a total of 165 million euro.

 

The transaction is expected to be completed by the end of February 2018. 

The portfolio of Alua Hotel & Resort subject to acquisition has more than 1,700 keys distributed in  seven  hotels  in  the  Balearic  Islands (AluaSoul  Palma,  AluaSoul  Mallorca  Resort,  AluaSoul Alcudia  Bay,  AluaSoul  Ibiza and AluaSun  Torrenova) and  the  Canary  Islands (Ambar Beach, in Fuerteventura and Parque San Antonio, in Tenerife).

Alua Hotels & Resorts will remain as the operator of the hotels through a lease agreement with a fixed component and a variable one in line with the rest of the hotels of Hispania.

As part of the transaction Hispania expects to invest close to 20 million euro in refurbishing four assets, as the remaining three were subject to a complete repositioning during 2016 and 2017.

With this transaction Hispania increases its presence in the Balearic Islands, strengthening its position in the Island of Mallorca.

Furthermore, Hispania also diversifies the management of its hotels with a new operator. After completing this transaction Hispania will have a total of 12,938keys in 45 hotels, consolidating as the largest hotel owner in Spain.

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