- Total investment amounts to € 180 million
- The hotel will become a benchmark establishment in the 5* Grand Luxury segment
- Mandarin and Rosewood stand as the preferred candidates to operate the hotel
Colliers (NASDAQ: CIGI; TSX: CIGI), a global leader in advisory services and management of real estate investments, has advised Blasson Property Investments in the acquisition of the Punta Negra Hotel, located in Costa d'en Blanes (Calviá) in the island of Mallorca, one of the most exclusive locations in the Balearic Islands.
With this transaction, Blasson Property Investments, a fund manager led by Antonio Pan de Soraluce, Francisco J. Meliá and Enrique Benjumea, accomplishes its first operation in Spain. The acquisition of the Punta Negra Hotel will entail an investment of approximately 180 million euros and includes both the purchase of the asset and the necessary capex to be deployed when repositioning the hotel in the 5* Grand Luxury segment. Said manager, who raised funds from Family Offices and Latin American investors, seeks for great brands such as Rosewood, current operator of the Villa Magna hotel in Madrid, or Mandarin, operator of the iconic Hotel Ritz, to run its trophy asset.
In fact, the spectacular nature of its enclave and the privacy of the Resort make it a firm candidate for attracting the most emblematic international luxury operators who will bid to replace H10 after the hotel’s refurbishment. The Punta Negra Hotel is located in a small peninsula and with private access to two crystal clear water coves, and just a few minutes away from some of the most exclusive locations in the Balearic Islands such as Puerto Portals and Santa Ponsa. The resort comprises 135 rooms distributed in 3 buildings and several bungalows, currently occupying an area of more than 28,000 sq m.
"Without a doubt, this transaction marks a milestone in the Spanish hotel sector, which takes another step towards gaining a strong positioning in the ultra-luxury segment. During the months in which this transaction has been conceived, we have been closely following the behavior of hotel establishments of this sort throughout the Mediterranean, and the figures achieved, despite the limitations of the pandemic, are surprising. They show the greater resilience of top-class hotels flagged by major international brands, " says Laura Hernando, Managing Director of Hotels at Colliers and responsible for the transaction.