The Spanish investment bank Banca March and Meliá Hotels International have teamed up in a joint venture to acquire two hotels, one located in Mallorca. The hotels will continue to be run by Meliá, bringing luxury and leisure to Spain’s islands.
The Innside by Meliá Palma Bosque, a modern hotel located a mere five minutes from the Paseo Marítimo de Palma, features 262 beautiful rooms overlooking the swimming pool and interior gardens. The ‘bleisure’ (business + leisure) hotel will undergo renovations beginning in the winter of 2025 through 2026, to ensure it remains a popular landmark of Mallorca. The Sol Tenerife, located on the sublime Playa de las Américas, will also undergo renovations between 2026 and 2027. The two hotels are valued at a total of 140 million euros, but the venture intends to jumpstart tourism even more. The project will invest 50 million euros into the renovations of the hotels, and will be divided, with 70% owned by Banca March and 30% owned by Meliá Hotels.
Banca March, a bank headquartered in Palma and Madrid, continues to bring value to the tourism of the islands, using this co-investment strategy with other investors. Since 2008, the bank has secured over 3,900 co-investors in various investment projects.
This joining of assets marks a significant change for the value of the two hotels, and the tourism sector of Mallorca as a whole.
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