GA_P advises Banca March on the creation of a joint venture with Meliá for the acquisition of two hotels in Mallorca and Tenerife

Gómez-Acebo & Pombo has advised Banca March on the creation of a joint venture with Meliá Hotels International for the acquisition of the Sol Tenerife and Innside Palma Bosque hotels, for an approximate amount of €140 million. An additional €50 million will be invested in their refurbishment and repositioning.

The new entity will be 70% owned by Banca March and 30% by Meliá Hotels International, strengthening the alliance between the two companies, which now jointly own five hotel assets. The deal reinforces their commitment to investing in the tourism sector in key destinations such as the Balearic and Canary Islands.

The GA_P team involved in the transaction included Santiago Gómez-Acebo and María Fanego from the Regulatory and Finance team; Valentina Rodríguez, Luis Nicolás Pinedo, and Gemma Serra from the Corporate team; and Remedios García from the Tax team, based in the Madrid office.

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