Banca March and Meliá Hotels International strengthen their collaboration with a new joint venture to purchase two major hotels in Mallorca and Tenerife 03 June 2025 Category: Agreements The Sol Tenerife and Innside Palma Bosque hotels will now form part of the new company, 70% owned by Banca March and 30% by Meliá Hotels International. The deal involves the acquisition of stakes previously held by other shareholders in the hotel group for over €140 million. In addition, around €50 million will be invested in repositioning both assets. Banca March includes this project within its co-investment strategy and will invite its clients to take part in it. The bank, a leader in advising hotel and tourism businesses, is deepening its ties with Meliá Hotels International, with which it already shares ownership of two hotels in Fuerteventura and one in Ibiza. Banca March and Meliá Hotels International are strengthening the successful partnership launched in 2023 with a new agreement that involves the ownership and management of hotel assets. The deal includes the acquisition of stakes previously held by other partners in the hotel group for over €140 million. As part of the transaction, around €50 million will also be invested in repositioning the affected assets. Through this operation, both companies aim to further enhance the quality and profitability of the hotels, increasing value creation for shareholders and clients. Both properties will continue to be operated by Meliá Hotels International. The Sol Tenerife hotel is located on the seafront of the popular Playa de las Américas. It offers 522 rooms and a wide range of activities and experiences across more than 10,000 square metres of gardens and common areas. The hotel is set to undergo a full renovation and repositioning in 2026–2027, after which it will be rebranded under the Meliá name. The Innside Palma Bosque is a flagship hotel in Palma’s thriving bleisure (business + leisure) segment. Strategically located between the second line of Palma’s seafront promenade and the iconic Bellver Forest, it features 262 rooms with stunning views over the pool and internal gardens, along with a well-established and wide-ranging gastronomic offering. Renovation works are scheduled for winter 2025–2026 as part of a repositioning plan to ensure the hotel remains one of the city’s leading hospitality establishments. Co-investment, a hallmark of Banca March Banca March has carried out this project through its specialised Co-investment team, with support from the bank’s Hotels and Tourism Unit. This new initiative adds to Banca March’s existing Co-investment opportunities, which allow clients to invest in the same products as the bank itself. The institution is a pioneer in its commitment to alternative assets, with a track record of more than 20 years offering shared investment strategies to its clients. In the case of illiquid Co-investment, Banca March covers a range of illiquid asset types—including venture capital, private equity, private debt, real estate, and infrastructure—carefully selected by the bank to offer an investment alternative in high-growth sectors. These assets provide an excellent complement to traditional portfolios, helping to avoid market volatility and economic uncertainty. In this way, Banca March provides its clients with the opportunity to invest in strategies that would otherwise only be accessible to large investors. Since 2008, Grupo Banca March has committed over 3.9 billion euros in illiquid assets together with its clients, achieving a twofold return multiple on projects in the real economy. During this period, more than 3,900 co-investors have participated alongside the bank in various investments. José Luis Acea, CEO of Banca March, states: “This new joint venture marks another milestone in our Co-investment strategy, strengthens our ties with a world-class partner such as Meliá Hotels International, and continues to consolidate our position as a reference institution for companies in the tourism and hospitality sector, where we have maintained a close relationship for decades as specialised advisers. The intrinsic value of the assets included in this new agreement, along with the trust inspired by the Meliá brand and its excellent hotel operations, represent for our clients—whom we will invite to take part in the project—a solid guarantee of value creation in a sector that continues to demonstrate its capacity for growth and innovation”. The Chairman and CEO of Meliá Hotels International, Gabriel Escarrer, states: “The new alliance signed with Banca March forms part of our strategy to collaborate with partners of the highest reputation and financial strength for the ownership and repositioning of assets. It stands as proof of a shared success, grounded in our joint track record and the values we both uphold. I am confident that this new joint venture will be highly beneficial for both parties, as well as for the stakeholders to whom both companies are accountable”.