The Blasson Property firm, created by the former partner of Colliers Spain, Antonio Pan de Soraluce, and the former directors of OHL Francisco Meliá and Enrique Benjumea, has closed the purchase of the Punta Negra hotel in Mallorca.
It is a boutique establishment, with 137 rooms, operated so far by the H10 chain, located on the Costa d’en Blanes, and with privileged access to two coves with crystal clear water.
The purchase of the Punta Negra hotel for 90 million is the first operation carried out by Blasson Property, which has raised capital among Latin American and American investors. The objective of Blasson Property is to invest another 95 million euros in the Mallorcan hotel to reposition it with a luxury and international brand and reopen it in 2024. The remodeling process will include the demolition of the current building.
The seller was the Blanes family and Colliers International, GBS Finance and EY participated as advisers.
“Without a doubt, this operation marks a milestone in the Spanish hotel sector, which takes another step towards positioning itself in the ultra-luxury segment. In the months in which this operation has been gestated, we have been able to closely follow the behavior of hotel establishments of this level throughout the Mediterranean and the figures achieved, despite the limitations of the pandemic, are surprising. They show the greater resilience of the top-class hotels championed by the main international brands ”, says Laura Hernando, managing director of hotels at Colliers and responsible for the operation.
