Ibiza Tourism,Hospitality and Hotel news
High-Value Investments Amidst a Softer Market
The Ibiza 2024 season is now in full swing, marked by significant investments and notable transactions. For example, the Italian Statuto Group has acquired the prestigious Six Senses Ibiza hotel, setting a record price per room at €1.7 million. Additionally, the Hotel Presidente has changed ownership and is slated for an upgrade. This reflects the ongoing trend of repositioning assets toward the high-end market.
However, despite these high-profile deals, the season is unfolding more softly than expected. Visitors, for instance, are staying for shorter periods and spending less, becoming increasingly price-sensitive. Consequently, Revenue Per Available Room (RevPAR) is likely to decline as the season progresses.
Meanwhile, the long-awaited Paseo IslaBlanca shopping mall has finally opened after extensive delays due to licensing issues. Cavalli has, for instance, initiated a soft opening of its first shop, and more stores are expected to follow over the next 12 months. Therefore, this development will serve as an important indicator in what appears to be a more cautious luxury market.
Moreover, Formentera has seen significant activity as well. Trilantic, the fund behind the recent sale of the Pacha Group, has sold the legendary Tipic Nightclub and the boutique hotel Casa Formentera.
In conclusion, as Ibiza navigates a season of substantial investment and market adjustments, the island continues to solidify its status as a premier luxury tourism destination.
Hotels Investment – Oak Hill Advisors sell Hotel Presidente Ibiza to Meridia Capital
Meridia Capital, led by Javier Faus, has acquired the Presidente hotel in Ibiza with an investment of 70 million euros. The hotel, previously owned by Oak Hill Advisors, is situated on the north coast of Ibiza in Cala Portinatx. Meridia plans to implement a comprehensive repositioning plan to transform the property into a five-star hotel with approximately 225 rooms.
This acquisition marks a significant development in the Spanish hotel industry. Meridia Capital, an alternative investment management company, intends to invest heavily in both the purchase and renovation of the Presidente hotel, as reported by La Vanguardia. This endeavor is the largest investment to date for Meridia V, the company’s latest fund, which previously acquired the Gallery hotel in Barcelona and the Molina Lario in Malaga for 50 million euros each, both formerly owned by the Gómez Casals family.
Meridia V’s acquisition of the Balearic hotel represents its largest investment so far. The fund has raised 400 million euros, enabling it to mobilize up to 800 million euros in investments. While the primary focus of Meridia V is on hotels, it also considers investments in logistics and residential properties.
With over one billion euros under management, Meridia Capital is actively expanding its portfolio. The company’s third fund is currently in the divestment phase, while the fourth and fifth funds are acquiring new assets. Additionally, Meridia has a specialized fund for luxury campsites, which has already raised 138 million euros.
Hotels News – Fergus Group announces the addition of Punta Arabi Resort Ibiza to its portfolio
The Fergus Group has announced the inclusion of the renowned Punta Arabí Resort Ibiza, in its portfolio as Fergus Style Punta Arabí in 2025. This addition marks a significant milestone, expanding Fergus’ collection to 30 hotels.
The Punta Arabí Resort, located on a stunning cliff along Ibiza’s eastern coast, will undergo a complete transformation into a premium 4-star resort. The revitalized property will feature 329 rooms nestled among pine forests and private gardens, offering a blend of Mediterranean elegance and authentic Ibizan charm. Guests will enjoy three restaurants and four bars, seamlessly integrated into the scenic landscape to capture the island’s true essence.
Set to become a four-star destination, the resort aims to revive the traditional spirit of Ibiza while providing an elevated hospitality experience. The iconic Es Canar Hippy Market, held weekly within the resort’s main streets, will offer visitors a vibrant cultural experience with local crafts, fashion, music, and cuisine. Additionally, the resort’s swimming pool and expansive solarium will complement the nearby Cala Martina and Es Canar beaches, just a short walk away.
This initiative is a key component of Fergus’ strategic expansion plan to enhance and reposition valuable hotel assets, thereby fostering the growth and development of high-quality tourism in Spain. By incorporating the Punta Arabí Resort, Fergus solidifies its leadership in the holiday hotel sector.
By expanding its portfolio to 30 hotels, and so strengthens its position in the holiday hotel sector.
Real Estate News – Paseo Isla Blanca Mall opens
The Ibiza’s New Luxury Shopping Complex: A Jewel in the Heart of the Marina
A new beacon of luxury has finally opened in Ibiza—a sophisticated shopping complex which will feature vupscale boutiques and luxury apartments, all strategically situated in the vibrant Ibiza Marina, with a breathtaking view of the Old Town.
This exclusive 5230 m2 complex is set to become the reference for a luxury mall in Ibiza, offering both a promenade with restaurants and shops. Its prime location, facing the historic Old Town, is complemented by an innovative and poetic architectural design. The elegance and sophistication of the architecture enhance the luxurious and wellness-focused experience Ibiza is renowned for.
Also featuring four select apartments and an exceptional one-of-a-kind penthouse with a private terrace. This exclusive development boasts breathtaking views of the sea, port, and the historic old town of Ibiza, making it a truly unparalleled location.
The design of these residences incorporates a carefully curated palette of neutral materials, including continuous cladding, washed oak wood, limestone, travertine, and marbles.
Each spacious apartment offers over 600 m² of living space, including expansive terraces and rooftop areas with panoramic views. The property features a 200 m² outdoor pool, an infinity pool, a 320 m² solarium, and eight private parking spaces per unit, solidifying its status as an iconic building in Ibiza.
These unique residential apartments blend luxury with comfort, providing an exceptional living experience in one of the most desirable locations on the island.
Photography Credit: © Moatti-Rivière agency
Hotel Investment News- Gruppo Statuto closes the purchase of Six Senses Ibiza from Metric Capital
Statuto Group has finalized the acquisition of Six Senses Ibiza, one of the island’s premier hotels, setting a record price for a hotel transaction in Spain. Sources familiar with the deal disclosed this information to elEconomista.es.
Previously owned by Beach Box and financed by Metric Capital, Six Senses Ibiza is located in Cala Xarraca and has been a standout asset since its opening in 2021. The sale shattered previous price benchmarks in the sector, with experts estimating the transaction value at approximately 200 million euros. This figure surpasses the 1.4 million euros per room that RLH Properties paid for the Hotel Villa Magna in Madrid in November 2018, as reported by Colliers.
The Six Senses Ibiza complex features 116 rooms, translating to an approximate price of 1.7 million euros per room for Statuto Group. Recognized as one of the world’s top hotels in the inaugural edition of The World’s 50 Best Hotels 2023 in London, Six Senses Ibiza has solidified its reputation on the global stage.
Statuto Group, headquartered in Rome, is renowned for owning some of Italy’s most luxurious hotels, including the Four Seasons and the Mandarin Oriental in Milan. Last October, the firm made headlines with the acquisition of Six Senses in Rome for 245 million euros, marking the highest hotel transaction in Italy and one of the most significant in Europe, with a per-room price of 2.6 million euros.
This acquisition bolsters Statuto Group’s presence in Ibiza, following their entry into the Spanish market last summer with the purchase of W Ibiza, a five-star hotel featuring 125 rooms and 37 suites, previously owned by Scala Capital and managed by Marriott International.
The purchase of Six Senses Ibiza comes amidst a surge in hotel investment in Spain. Savills forecasts a promising year for the sector, with total transactions expected to reach 3 billion euros. In the first half of the year alone, transactions amounting to 1.5 billion euros have been completed, reflecting a 30% increase compared to the same period last year, according to the property consultancy.
Investment – New Law provides an opening for legalizing properties
The current government is studying the possibility of legalising properties that have been fined for illegal construction and have not been able to register these changes into the land registry. The condition is that the fines must have prescribed in three years and a fine must be paid.
The move is a sensible one and hopefully will start to pave the way for recognising the legal impasse that has been prevalent on the island for decades and offer solutions for owners that want to regularise their properties.
This will also help improve investor confidence and more transparency and allow for a significant amount of houses to become fully and legally registered and facilitate transactions to flow easier.
This is good for the property market.
Hospitality News – Trilantic sells Formentera Club Tipic
Trilantic Europe, an investment management company established by former Lehman Brothers employees, has divested a portion of the Lío business. This business, known for its cabarets, was part of the Pachá group until last summer when the renowned nightclub chain was acquired by the Dubai-based Five Holdings. The recent transaction involved the sale of the historic Tipic nightclub in Formentera to Dutch investor Michael Van de Kuit, a prominent entrepreneur on the island with interests in nightlife and football.
Tipic, with a capacity of around five hundred people, gained fame in the 70s and 80s due to its association with the hippie movement. It opened in 1971, marked by a Pink Floyd concert, as the band was on the island filming the movie “More.” Located in the town of Los Pujols, the nightclub was acquired by Pachá in 2021 after being closed for several years.
The transaction, legally advised by Cuatrecasas, remains confidential. Van de Kuit purchased Tipic through It’s All About Music Global Investments, a Dutch holding company. The acquisition involved Planeta Formontoria (formerly Pacha Formontoría) from Grupo Lío, which is still managed by Trilantic and has locations in Ibiza, Mykonos, Mallorca, London, and soon Dubai.
Hotel News – Trilantic sells Hotel in Formentera – Casa Formentera
Two former Pacha executives, Víctor Agudo and Óscar Romero, have acquired Casa Formentera from Trilantic. They are eager to complete the project they originally started. Agudo, the founder of Casa Jondal and former Pacha general manager, and Romero, who has managed the hotel since its inception, now lead this venture. They are joined by three other partners.
Trilantic, which bought Pacha in 2017, has been selling its assets. It recently sold Casa Pacha, now renamed Casa Formentera. This boutique hotel has 16 rooms, a restaurant, and direct beach access on Migjorn beach in Formentera. Trilantic has also sold the discotheque and hotels El Hotel and El Destino to Five Holdings.
Agudo and Romero led the hotel’s launch and now have full ownership. Agudo’s investment is personal and separate from his Casa Jondal project. Both executives confirmed the acquisition to La Voz de Ibiza, stating that the deal was finalized a few days ago. Three additional financial partners are involved in the project. The transaction amount is undisclosed, and the property concession ownership was not included in the deal. The rental contract for the concession extends for 20 more years.
The new owners plan no immediate changes for the current season. The establishment will continue operating as Casa Formentera. Agudo and Romero expressed excitement for the project, committing to maintaining high standards in both product and service. Agudo shared their enthusiasm, stating, “We are very eager and very fond of this project.” Romero added, “We aim to provide the best service and product possible.”
Romero also emphasized the unique opportunity to continue a project they designed and implemented at Pacha. He expressed deep affection for it. He highlighted the site’s prime beachfront location and their goal to create a project that reflects Formentera’s essence. They intend to give it a natural and human touch, setting it apart from typical investment fund operations.
Hospitality News – Madurnia Restaurant opens in San Antonio
Madunia truly embodies its name, derived from “Mama Dunia” or Mother Nature. Whether it’s the architecture or the gastronomic offerings, the restaurant delivers on its promise to reflect the essence of nature.
The restaurant’s exterior is striking. It stands out amidst the surrounding villas with its unique architectural design that is nestled in lush vegetation. The interior is a tribute to the integration of natural elements. It features bamboo canes, wood, and warm colors mixed with natural greens. The ochre tones and hints of sand, are seamlessly integrated into 2,000 m2 of landscaped spaces, creating a harmonious environment.
The kitchen is led by Nicaraguan chef Ivan Arauz Beusink. Ivan brings his expertise from nine years at RIJKS. A Michelin-starred restaurant in Amsterdam.
Ivan honors the Ibizan pantry, infusing local flavors with Latin touches and a focus on fire and local producers.
While the restaurant doesn’t have a beachfront location, it offers a stunning view of the sunset from the rooftop. Starting or ending your visit with one of the ten signature cocktails crafted by bartender Aneta Nowak is highly recommended. These cocktails incorporate many local ingredients, such as Ibizan herbs, ensuring a unique and invigorating experience.
Lets check some of the recent figures for the real estate market
The Ibiza real estate market prices are at all time highs. The market is beginning to show some signs of a slowdown with residential sales falling. A very strong season adds to the economic well being of the island. Property prices will start to consolidate.
Keep your eye on…
Something has got to start moving around these venues at some point
Ibiza in the press
