Banca March Expands Alliance with Meliá Hotels through €190 Million Acquisition

Beka has successfully advised Banca March on a significant transaction involving the acquisition of two landmark hotels in Mallorca and Tenerife. This acquisition, valued at over €140 million, will be part of a strategic expansion with Meliá Hotels International, forming a new joint entity with Banca March holding a 70% stake and Meliá 30%. Meliá Hotels International initially owned shares which were purchased as part of this deal. An additional investment of €50 million will go towards refurbishing and enhancing both hotels to elevate their quality, profitability, and appeal. The move exemplifies Banca March's co-investment strategy, allowing clients to share in such ventures. The Sol Tenerife, located along the Playa de las Américas, will undergo a complete renovation by 2026-2027, leading to its rebranding with the Meliá name. Innside Palma Bosque in Mallorca, a noted 'bleisure' hotel, will receive upgrades in the winter of 2025-2026 to reaffirm its status as a leading destination. The transaction strengthens the ongoing collaboration between Banca March and Meliá, following their previous efforts in Fuerteventura and Ibiza.