Banca March, a bank of Balearic origin, has acquired an 80% stake in the ownership of three hotel assets that until now were in the hands of an entity managed by the Starwood Capital Group. The hotel company Meliá Hotels International (MHI) holds the remaining 20%. The agreement between Banca March and MHI contemplates the strategic repositioning of already consolidated assets, located on the beachfront and in quality destinations with great tourist demand, as the main lever for value creation.
The hotels subject to the transaction, which will continue to be operated by MHI and under group brands, are the ‘Sol Beach House Ibiza’, which will be repositioned under the Meliá Hotels & Resorts brand, the ‘Meliá Fuerteventura’, which will be the subject of a repositioning towards a premium segment and the ‘Innside Fuerteventura’, an asset already repositioned and which will reinforce synergies with the new Meliá Fuerteventura.
Banca March has a team specialized in the tourism-hotel sector, which has accompanied the entire process. In coordination with the rest of the areas of the entity, this unit makes available to its clients a global offer of specific advice for the sector.
The operation is part of the real economy co-investment strategy that Banca March offers its clients as part of its wealth advisory proposal. Since 2008, the bank has managed more than 2,650 million euros in joint venture projects in the real economy, in which 1,750 clients have participated together with the entity.
In 2022 alone, co-investment projects (real economy and private equity fund of funds) were marketed for an amount of 570 million euros. Acron Beka (Beka Finance) has participated in the operation as financial advisor and Cuatrecasas and Gómez-Acebo as legal advisors.