Ibiza is a very desirable destination for large investors. The tourist attraction that characterizes the island makes it a favorable destination in which to invest to enjoy an almost guaranteed success.
The fund manager Meridia Capital is currently negotiating the acquisition of the hotel at three-star Presidente hotel in Ibiza (located in Portinatx). This establishment would be valued at around 30 million euros, according to Expansión.
The hotel is currently closed and since 2018 is owned by Oak Hill Advisors, with whom Meridia Capital would be negotiating. In fact, Oak Hill’s original idea was to convert the Sant Joan establishment into a five-star one, with a planned investment of €20 million. Although this reform has not been carried out, the specialized press confirms that it has the transformation plan approved by the local authorities.
Hotel Presidente
The Hotel Presidente has four floors and 270 rooms. Until it closed its doors, it was a very familiar establishment, although its facilities were somewhat outdated and obsolete.
The renovation project, according to Diario de Ibiza, was commissioned by Oak Hill to the architectural firm Galöw, which based its proposal on optimizing all the spaces for increase the profitability of the establishment.
Another of the architects’ objectives was to ensure and promote the guests’ rest following the criteria of neuroarchitecture, taking maximum care of acoustics, ventilation, lighting, proportions, colors, design and ergonomics.