The sale and purchase of hotels in Ibiza is constant. It is a very attractive property market for large investors.
The latest news in this segment is published today by El Confidencial, where it explains that the AX Partners real estate fund has just bought the Hotel Sir Joanlocated in the center of Ibiza, for about 28 million euros. Overlooking the port of Ibiza, it has 38 rooms and suites.
This hotel will become the first NH Collection Hotels & Resorts in the Balearic Islands and will be called NH Collection Marina Ibiza.
The Ibiza hotel is not the only hotel recently acquired by AX Partners. It has also acquired two more hotels, in Sitges and the Costa Brava. The company, which with these three acquisitions will add a further 80 million in value of assets under managementhas just sold the iconic building located at Avenida Diagonal 438 in Barcelona to a Spanish real estate company. “The transaction has meant the revaluation of a declining asset to a new, prime, fully repositioned and profitable hotel asset, thus bringing great value to the city,” explained Aleix Recasens, founding partner of AX Partners.
Refurbishment of the Sir Joan
AX Partners, which manages capital from private investors and ‘family offices‘, will refurbish the property after sealing the agreement with NH Hoteles’ premium brand to improve its management and the profitability of the asset, reaffirming its investment strategy of seeking establishments that stand out for their uniqueness and location. However, the transaction involves a major investment to renovate the facilities and adapt them to the brand’s standards NH Collectionthe NH Collection has been designed to enhance the quality of its facilities and services, according to El Confidencial.
At the moment, it is unknown when this new NH Collection Marina Ibiza will open its doors on the island.
For the full article, please visit Diario de Ibiza website here.