Hiperion Hotel Group acquires hotel in Mallorca for €36M

Hiperion Hotel Group acquires hotel in Mallorca for €36M

Hiperion Hotel Group has closed the purchase of the Beverly Playa hotel, a three-star establishment currently located on the seafront in Paguera (Mallorca), for 36 million euros. After months of negotiations, the company has added this establishment to the portfolio of Playasol Ibiza Hotels, a Balearic tourism company it also owns.

This operation is in line with Playasol's business strategy, focused on sun and beach destinations with good locations. Likewise, Hiperion confirms the investment of approximately nine million euros in the next few years in the refurbishment of the Beverly Playa, built in 1973.

The hotel, located in a tourist area of the municipality of Calvià, has 443 rooms distributed over nine floors, as well as common areas of more than 3.000 sqm and three swimming pools. With more than 50 years of history, the Beverly Playa is one of the best known establishments in the Balearic tourist sector due to its large capacity and beachfront location.

The typology and characteristics of the property fit with the current portfolio of Playasol Ibiza Hotels, which has 35 establishments in Ibiza and one in Mallorca, and has developed in the last five years a repositioning of its portfolio.

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