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Hispania completes the purchase of seven hotels operated by Alua

Real estate investment company Hispania has exercised a call option for seven hotels of Alchemy's investment capital for €165m managed by Alua Hotels & Resorts.

The hotels purchased by Hispania from Alchemy are:

  • AluaSoul Palma (120 rooms),
  • AluaSoul Mallorca Resort (371 rooms),
  • AluaSoul Alcudia Bay (171 rooms),
  • AluaSoul Ibiza (278 rooms),
  • AluaSun Torrenova (254 rooms),
  • Ambar Beach (244 rooms)
  • Parque San Antonio (252 rooms)

These establishments (1.690 rooms) will continue to be operated by Alua Hotel & Resorts under a rental agreement, as are the other Hispania hotels.

On 27 February, HOSTELTUR announced a net profit of 222.8 million euros in 2017 and a dividend distribution of 95 million euros to Hispania. This call option is part of the 240 million euro operations that the company has committed to invest in the coming years.

Concha Osácar, CEO of Hispania, commented: "2018 presents itself with magnificent market prospects [...] which allows us to be convinced that we have a unique opportunity to continue to generate high returns for our shareholders."

Yesterday, Hispania also acquired the Barceló Marbella Hotel for 19 million euros. The agreement to acquire the hotel was announced on 27 December, when Hispania acquired 100% of its subsidiary Bay Hoteles & Leisure, acquiring 24% of the remaining shares in the Barceló group for 172.4 million euros.

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