Thomas Cook Signs Franchise Agreement for a Casa Cook with Hotel Sa Torre in Mallorca, Spain

Main Photo: The Hotel Sa Torre as is today

Date: March 2019

Location: Mallorca, Spain

Name: To be Casa Cook – Currently Hotel Sa Torre – to re-open 2019

No. of Keys: 90

Owner: The hotel belongs to and is operated by HI Partners, which is owned by the Blackstone Group. The hotel will undergo a major refurbishment and will re-open this year.

Hotel Investment Partners is a leading leisure real estate company in Spain owning 62 hotels comprising more than 17,000 rooms, headed up by Roy Paul, CEO.

The hotels are predominantly operated under management contracts with strong national and international operators including Ritz-Carlton, AC Marriott, Lopesan, and Meliá, amongst others.

Blackstone is a global leader in real estate investing. Blackstone’s real estate business was founded in 1991 and has approximately US$111 billion in investor capital under management.

Blackstone’s real estate portfolio includes hotel, office, retail, industrial and residential properties in the US, Europe, Asia and Latin America.

Major holdings include Hilton Worldwide, Invitation Homes (single family homes) and prime office buildings in the world’s major cities. Blackstone real estate also operates one of the leading real estate finance platforms, including management of the publicly traded Blackstone Mortgage Trust.

Brand: Thomas Cook, with nearly 200 hotels across its eight own brands, will open a further 20 new own-brand hotels this year, including three other Casa Cook properties in Ibiza, Chania and El Gouna, Egypt.

Thomas Cook has signed a franchise agreement for the opening of a rustic Casa Cook with Hotel Sa Torre in Mallorca.

The hotel, which includes a 15th century windmill and a private Neogothic chapel, will undergo a major refurbishment to reflect Casa Cook’s award-winning laid-back, luxury design ethos to target an opening later this year.

Enric Noguer, CEO of Thomas Cook Hotels & Resorts, said:

“Mallorca remains our most popular holiday destination and bringing our most important hotel brand to the island is a major step forward for us in continuing to develop a successful hotel division within Thomas Cook.

We are excited about the new opportunities that the agreement with HI Partners opens up and we look forward to working with HI Partners to identify and collaborate on further projects in the coming months.”

Thomas Cook Hotels & Resorts is the hotel division of Thomas Cook Group and has nearly 200 hotels across its eight own brands. With more than 40,000 rooms in 47 destinations around the world, it is one of the world’s top 40 hotel companies.

Thomas Cook Hotel Investments, the joint venture between LMEY Investments and Thomas Cook Group PLC, has secured €51 million in its second round of debt funding from Spain’s CaixaBank. This follows €40 million in funding from Piraeus Bank, for a total of €91 million.

The company reportedly plans use the money to invest in development throughout Spain and around the Mediterranean. TCHI also agreed to acquire a 250-room hotel in the Canary Islands, as well as another 300-room hotel in the Balearics. The seven hotels in the fund now take the total asset value to around €250 million and 2,200 rooms.

The fund aims to have between 10 and 15 hotels within the next two years. Additional hotel acquisitions have been identified and the team is focused on executing an expansion plan over the coming year, according to the company.

THPT Comment: Thomas Cook, in their airline and tour-operating business having a slightly rough ride at this time, reviewing Thomas Cook Money, closing 21 stores in the UK, cutting 300 jobs, but still have some bold plans for their hotel offering.

First Seen: Thomas Cook website

The Hotel Property Team (THPT) is a small group of highly experienced business professionals. Between us, we provide a range of skills and experience which is directly relevant to those involved in the hotel property market.

For more information – Visit www.thpt.co.uk or email info@thpt.co.uk.