Schroders Capital has just announced the acquisition of The Standard Hotel in Ibiza, Spain, owned until now by KKH Property Investors.
The newly built 67-room hotel is located in the historic centre of Ibiza, incorporates the famous "Jara" restaurant on the ground floor and, on the rooftop, in addition to the swimming pool, overlooks the marina and the historic area of the city.
This is Schroders Capital's fourth acquisition in the last 12 months in the luxury hotel sector in Europe.
Benjamin Chiche, Investment Director, Real Estate Hotels, Schroders Capital, says: "We were attracted by the combination of a new-build property in a great location and the power of The Standard brand behind it. The Standard team is perfectly placed to capture the spirit of the Ibizan market and the enthusiasm of the market for its latest opening in Ibiza, which is well deserved."
"Schroders Capital currently manages 55 hotels across Europe, with significant exposure to the luxury market. This level of real estate exploration expertise makes Schroders Capital a preferred buyer for sellers of these types of assets and, in this case, enabled the transaction to be completed in four weeks," explains the company's executive.