Spanish investor buys Berlin resort for €226m

The Spanish-based Parques Reunidos Servicios Centrales SA has acquired the Tropical Islands resort, located 37 miles south of Berlin, for €226 million ($257 million).

The seller is Tisarl, part of the Malaysian conglomerate Tanjong, which is handing 100 percent of its shares to Parques Reunidos with the sale.

The transaction is expected to be completed in February 2019.

Tropical Islands was opened at the end of 2009 in a former Zeppelin hangar. The 600-hectare site also includes hotels and several hundred vacation rentals.

According to a statement issued by Parques Reunidos, Tropical Islands has an annual visitor count of 1.3 million, generating an estimated revenue and earnings before interest and taxes of €71 million ($80 million) and €20 million ($23 million).

The company recently announced plans to expand the hall and 630-acre outdoor area.

Tropical Islands Resort is majority-owned by Tanjong Plc – Ananda’s holding company, which houses other leisure and property investments like TGV Cinemas and a 67 percent ownership of the 49-story Menara Maxis.

Parques Reunidos is leading global theme and theme park operator, which operates 64 parks worldwide, 30 of them in Europe.