JPI Hospitality acquires the Tres Playas hotel in Mallorca

JPI Hospitality acquires the Tres Playas hotel in Mallorca

JPI Hospitality Investors Club, based in Vienna, has acquired the Tres Playas hotel in Mallorca, which is scheduled to reopen in the second quarter of the year.

Located in Colonia de Sant Jordi, in the south of the Majorcan island, the resort has almost 8,000 sqm of surface area and is equipped with four stars and 137 rooms on the seafront. It also has an exotic garden.

"We are always looking for assets where we can preserve the established structures and then adapt them into a new concept with contemporary form. Our experience will allow us to strategically invest in their facilities and rehabilitate the place to its full potential and transform it into a lifestyle beach resort. medium to high," says Lukas Euler-Rolle, CEO of JPI Hospitality.

The operation, which has been advised by CBRE, represents the first purchase of the year by this community of investors, which now includes 12 hotel assets (five in the development stage and seven in operation), including the Bikini Island & Mountain hotel, in Puerto de Sóller, also in the Balearic archipelago.

"This deal further underlines our commitment to the hospitality sector, where we continue to see exciting opportunities to acquire high-quality, well-located assets with significant value-added potential. In doing so, we have a particular focus on sustainability. A circumstance that will play an increasingly important role in future hotel selection," said Daniel Jelitzka, Founder of JP Real Estate Group and Chairman of the Board of JPI Hospitality.

According to Gustavo Cumella de Montserrat, associate director of CBRE Hotels, "this transaction demonstrates the high investor appetite for hotel opportunities that offer a repositioning angle in the vacation segment. A strategic CapEx program and a new brand will allow the Tres Playas hotel to become one of the best lifestyle resorts in the south of Mallorca".

JPI Hospitality Investors Club was established in the summer of 2021 with the aim of investing around €300 million, by 2023, in hotel acquisitions and refurbishments in major European cities and leisure destinations.

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