Hoteles Globales Buys the Lively Magaluf Hotel in Mallorca

Main Photo: The Lively Magluf Hotel

Date: February 2021

Location: Palma Nova, Magaluf, Spain

Name: The Lively Magaluf Hotel – Three-star, to become the Globales Magaluf Hotel

No. Keys: 87

Seller: Mar Hotels Chain, a family hospitality company with its head office in Mallorca. It owns eight properties in the Balearic Islands (seven in Mallorca and one in Menorca) as well as an online travel agency. Mar Hotels currently operates under the following brand names:

Mar Hotels: with six resorts focused on four-star family holidays in Mallorca and Menorca
Mar Senses: with one four-star adults-only resort in Mallorca.
Lively Hotels: with two three-star holiday resorts aimed at young people in Mallorca
Goodbytravel: Online Travel Agency.

Buyer: Hoteles Globales has acquired the Lively Magaluf hotel, located in the municipality of Calvià, in Mallorca, through an investment of more than €10m.

The asset is a 3-star establishment with a total of 87 rooms, which was owned by the Mar Hotels chain. The Hotel will enjoy renovation works that include – restyling of the rooms, incorporation of a new terrace and swimming pool, modernisation of the public areas and a change of flooring. After concluded, this will become the new Globales Magaluf hotel.

According to the newspaper Alimarket, the establishment will be operated by the company Amla Explotaciones Turísticas, another of the subsidiaries of HG, chaired by José Luis Carrillo Benítez.

“We consider that the Palma Nova/Magaluf area is strategic, due to its proximity to the airport and the city of Palma, and is also in high demand by tour operators and customers” the company explains.

The HG portfolio amounts to a total of 50 properties, 45 of which are located in Spain, while five are located abroad.

Price: €10m

Price per Key: €115,000

THPT Comment: Good to see Hoteles Globals in buy mode, when Spain is suffering more than most in Europe. Maybe reflected in the price per key.

First Seen: Iberian Property

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