Grupo Empresas Matutes has reached an agreement with Azora to acquire its 75 percent stake in the joint venture created in 2019, which includes three five-star hotel assets located in strategic Mediterranean destinations: Ibiza (Spain) and Sicily (Italy).
The transaction, valued at €300 million ($347.72 million), marks the successful completion of the joint project between Grupo Empresas Matutes and Azora to transform and enhance the value of three high-quality hotel assets.
The three properties total nearly 1,000 rooms and operate in the luxury and premium all-inclusive segments, categories that have shown solid performance in recent years in terms of demand, rate positioning and profitability.
The assets included in the transaction are: BLESS Hotel Ibiza, a luxury hotel with 151 rooms located in Cala Nova (Ibiza), a benchmark in the island’s luxury lifestyle segment and part of the BLESS Collection Hotels brand; TRS Ibiza Hotel, a five-star, all-inclusive,
