IBIZA NEWS - The Real Deal
Hope you are all keeping well!
The season has started strong with loads of expectation and excitement in the air!
Lots of exciting new venues will be opening, new hotels and the clubs will be back with a vengeance and the air is full of positive vibrations! We expect a strong season with high spend and recovery to 2019 levels. This is good news for our economy.
The real estate market is powering ahead with prices at all time highs, home sales close to 2017 peaks and inventories beginning to come down.
We expect to see some easing going forward on economic and geo political uncertainties, but overall the undertow for the market will remain robust.
There has been a continued flurry of activity with new hotel openings, real estate transactions in the hotel and hospitality spaces, and investment in the leisure segment as Ibiza consolidates as a premium luxury destination.
All in all exciting times!
Whats happening?
Fatal Group buys3 hotels in Ibiza
Israel’s Fattal Group has agreed to buy a collection of six Spanish hotels from KKR and Dunas Capital for upwards of €165 million.
The properties — four hotels and two apartment hotels — are located on the Balearic islands of Ibiza and Mallorca, and currently form part of the Alua Hotels & Resorts chain, part of Hyatt-owned Apple Leisure Group.
The transaction is the first by Fattal as part of a joint venture with institutional investors Menorah, Harel, and Leumi Partners.
The partnership will finance the transaction from its own sources, in addition to a loan of approximately €95 million that the partnership intends to receive from a banking entity.
The purchased hotels are:
- Alua Hawaii Ibiza (209 rooms),
- Alua Miami Ibiza (360 rooms),
- Aluasun Miami Ibiza apartment hotel (82 Apartments),
- Alua Hawaii Mallorca & Suites (230 rooms and 68 Hawaii Mallorca Suites)
- Alua Palmanova Bay (170 rooms)
The current owners the hotel have spent more than €14 million in renovations and Fattal plans to invest a further €20 million in enhancing the facilities, amenities, and overall customer experience. In due course the properties are expected to rebrand to the group’s well-known European hotel brands such as Leonardo, Leonardo Royal, and NYX.
The transaction is expected to close in the second half of 2022 and will not impact guest reservations or experiences.
ibiza luxury marina concession awarded
The Luxury Yacht Marina of Ibiza has been awarded to IGY Gestora Marinas Spain, one of the worlds largest operators in consortium with the Matutes Group.
The 8 year 5 month concession is valued at €408,019 plus €1,325,000 premium per annum and will allow for 20-40 mt boats to moor off season while exclusively catering to the mega yachts in season The water mirror is some 39,000 m2 and some 3000 m2 on land and includes the Es Martel commercial spaces.
The Luxury Yacht Marina of Ibiza has been awarded to IGY Gestora Marinas Spain, one of the worlds largest operators in consortium with the Matutes Group.
The 8 year 5 month concession is valued at €408,019 plus €1,325,000 premium per annum and will allow for 20-40 mt boats to moor off season while exclusively catering to the mega yachts in season The water mirror is some 39,000 m2 and some 3000 m2 on land and includes the Es Martel commercial spaces.
Matutes group buys the iconic Privilege clu
Privilege Ibiza
After years of dispute between the majoirty shareholder with 55% Echaniz and the Matutes group with 45%, the courts have finally enabled the Matutes group to buy out Echaniz stake reportedly for some € 20 mm.
The iconic club will remain closed this season and undergo a full refurbishment with the aim to open next season.
Another important addition to the Matutes portfolio.
Let´s see what they come up with!
Standard Ibiza opens this season
Standard Ibiza
All 67 rooms and suites are well equipped with rain showers, sofas and Bluetooth speakers. Unfussy clean-lined interiors with white walls and minimal furniture make each room feel like a peaceful retreat from the bustle of town. Some bigger rooms and all suites have deep soaking tubs, sofas and separate living areas, in-room bars and Juliet balconies allowing you to feel the thrum of the main square from your room. Big groups with bigger wallets should check into private residence Casa Privada down the road (though still under construction at the time of our visit), it’s shaping up to be a plush 14-bedroom villa with a rooftop pool, hot tubs, gym… the works.
The main restaurant, Jara, on street level, spills out onto the main plaza, and has a wonderful chilled-out airiness during the quieter times of the day with guests milling about, eating, or tapping on keyboards. Jara serves up breakfast through to dinner and a late supper menu from 12am-2am. As the sun sets, it gets more intimate and buzzier, with a live DJ on decks from 10pm. The menu riffs on typical Spanish and Mediterranean flavours – croquettes, paella, salted ‘bacalao’ cod, with a few crowd-pleasing dishes like burgers and steak. There’s a great wine list that runs the gamut from traditional to funky orange and cocktails are fresh and punchy – try the Primero, a gin-based cocktail mixed with traditional aniseed Ibizan hierbas. Want something off-menu? The bartenders are happy to get creative or deliver the classics. Upstairs on the rooftop, Up, it’s all about light and zesty bites of tacos and fresh seafood. Cocktails got the fresh and fruity memo with lemongrass margaritas and grilled pineapple mezcal sodas. To soak up the sins of the early morning dancefloor, kudos must be paid to the 24-hour room service.
the party scene
exciting new club in town Club Chinois
Club Chinois Ibiza …Good Vibrations
.Ibiza is getting a taste of London’s acclaimed Asian restaurant Park Chinois this summer, with the launch of a decadent new nightspot, Club Chinois in Ibiza Gran Hotel.
The venue, which opened on 17 June, is located in the former Heart Ibiza site and was inspired by the glamorous jazz clubs of 1930s Shanghai. The brainchild of Island Hospitality – the team behind Park Chinois – the 3000 sqm venue was designed by Parisian Design Studio Laleh Assefi, and features bold, elegant interiors celebrating the era of Chinoiserie. The grand and sumptuous colour palette offers an opulent East meets West aesthetic, with a playful nod to Ibiza’s hallowed hedonistic heritage.
The club is set to host some of the world’s best-known international talent, with an initial line-up of residencies including Sven Väth, Guy Gerber, Luciano and THEMBA. The space is able to accommodate up to 1,000 revellers.
Japanese restaurant Zuma will also be present on the hotel’s open-air terrace, with the pop-up venue serving up its contemporary cuisine with stunning vistas over the seascape.
Designed by renowned French designer Jacques Garcia, Park Chinois is one of Mayfair’s best-known restaurants, known for its lavish interiors, seductive atmosphere, superb cuisine and flamboyant entertainment. The restaurant offers two distinctive dining experiences in Salon de Chine – where acclaimed Chinese food is served in a plush dining room to a sultry soundtrack of live jazz – and Club Chinois, which transports guests to the golden age of Shanghai supper clubs and cabaret.
CONSELL approves agrotourism finca room rentals
A New Laws
The Consell de Ibiza has passed a law that enables fincas to rent out up to 3 rooms and 6 guests for short term stays.
The idea is to help finca & farm owners supplement their income with holiday rentals.
The property owners of these fincas will have to apply for the touristic license, and buy and capacity (per beds), notwithstanding that for the moment there is a moratorium imposed by the autonomous government theGovern in Palma.
The reasoning behind the moratorium is to establish criteria for the tourism model for the Balearics going forward and understand its need in terms of capacity, sustainability and distribution.
The moratorium is intended for 4 years while studies and evaluations are carried out.
Worth looking into as it will add value to the property.
What else?
six senses villas & residences for sale
Six Senses Residences & Villas
This is a unique opportunity to own one of a handful of six- to seven-bedroom First Line Villas just steps away from the secluded shorefront of Xarraca Bay.
The First Line Villas offer up to 1,000 square meters of living space in addition to rooftop terraces with double bay views.
The additional outdoor entertainment area is ideal for hosting get-togethers from sunrise to sunset and each has a private half-Olympic sized pool overlooking the sea.
Using locally sourced materials, the villas combine a traditional finca aesthetic with all the modern comforts.
The North and South Village Residences are masterfully designed with both scale and flow in mind.
The layouts offer between four and six bedrooms and between 270 square meters and 630 square meters of interior living space.The interiors are a contemporary interpretation of local design influences, using sustainable, natural materials, wood and micro terrazzo stone.
Outside, the intimate terraces and lush gardens offer views out to the sea. Each residence has its own pool and, in some cases, a private rooftop ideal for entertaining.
The North and South Mansions are also available to rent for larger families and groups and have full use of the hotel amenities
AZULINE LOSES 3 HOTELS IN SANTA EULARIA
Mercat Vell and Sa Peixeria reforms approved !
The city hall of Ibiza has finally approved the refurbishment and reformation of the old market and the fish market.
This will change significantly the landscape of the Marina and inject a new breath into the Marina area.
The fish market will be reconverted with fresh fish stalls, delicatessens and food market stands whilethe nearby Mercat Nou will offer fruit and vegetables and local produce.
Total investment will be €3.8 mm and is expected to be completed in18 months.
Private jet traffic jumps to all time highs
Private jet air traffic jumps to all time highs in 2021.
Air traffic has increased over 26% compared to 2019.Some 14,500 flights landing and taking off carrying around 40,000 passengers
This is roughly 7250 arrivals or an average of 20 per day.In season this multiplies to over 100 flights.
This season looks like we will break another record!
french experimental group takes over Hotel montesol
The Paris based group, already in Cap Des Falco with the beach club, will take over management of this iconic 33 room hotel. It will also open the new Sabbaba restaurant specialised in Israeli cuisine.
Lets check some numbers
strong recovery in tourist arrivals
Tourist Arrivals Rebound
The island economy depends almost entirely on tourism,
We follow this indicator as a gauge for the underlying strength of the real estate market
The season has started strong and is expected to at least be on par with 2019. Good news for the island!
Listed offered prices continue to move up
Residential Home Prices
Listed offered prices across all price points continue to rise steadily and are reaching all time highs for the average market price.
Demand is robust and scarcity is still a large factor behind these increases, though we would expect some easing on current economic climate and uncertainties going forward.
Building Permits steam ahead
Home sales are powering ahead.
1Q 22 home sales came in very strong and we expect the trend to continue though slowing somewhat towards year end.
The market currently is brisk and demand is fairly strong with a good take up.
keep your eye on ...
tribulations at the ibiza club nautico
The Ibiza Yacht Club
The club nearly 100 years old will see its concession end in 2022. At the moment the existing club and the Doce Millas are the only contenders.
With the new 35 year concession is in place expect a major revamp.
a second new private hospital in Ibiza?
A second private hospital in Ibiza?
There is a battle brewing between the incumbent private hospital El Rosario owned by Vilas and a new venture (has been in the making for the past 15 years) that is being proposed and led by another group headed pharmacist Tur Viñas. The island could benefit from a second private hospital and a little competition could be healthy!
But the incumbent is fighting hard!Let see how it all pans out