12.18. Asset Management – hotel acquisition on Majorca
Acquisition as part of strategic partnership between 12.18. Asset Management and an institutional fund manager
The resort in a prime location with views over the bay of Santa Ponsa has been formerly operated by private owners
The reopening is planned after the completion of comprising repositioning measures, upgrading the hotel into a state-of-the art leisure destination
Mallorca-based PURO Group will operate the hotel as their first ‘Purobeach Resort – Oasis del Mar’
Düsseldorf / Palma de Mallorca, February 8th, 2024. The purchase contract for the Hotel Club Santa Ponsa, located in a premier location in the west of the island, has been signed as part of a strategic partnership between an international investment fund and 12.18. Asset Management under the lead of managing directors Henri Leyer-Pritzkow and Adrian Lindner.
12.18. has led the transaction process, developed the comprising repositioning and operational concept, will supervise the architectural refurbishment of the hotel and jointly with PURO Group ensure the successful reopening and operation of the resort on behalf of the fund.
Henri Leyer-Pritzkow, Managing Director at 12.18. Asset Management, comments: “We are delighted that after our previous successes in Ibiza and Majorca, we are now realizing another great project in the Balearics – a market demonstrating continuous touristic demand and an accelerating development towards quality tourism in recent years. This transaction shows once again that our vertically integrated service portfolio provides substantial value to equity partners that have understood the tremendous potential of touristic hospitality and want to make use of the many promising opportunities in this exciting asset class with a specialized and dedicated partner such as 12.18.
The hotel in an excellent location overlooking Santa Ponsa bay currently comprises 142 rooms and will be transformed into an exclusive resort. PURO Group, successfully operating luxury boutique hotels on Majorca and various high-quality beach clubs in international top destinations, will take over the operation of the resort after the reopening.
Beltrán Álvarez de Estrada, CEO of Puro Group: “With this project we will be able to integrate our successful hotel and beach club concepts into one unique product. We immediately saw the high potential of the resort and the repositioning concept developed with 12.18. – we are confident that in cooperation with 12.18. we will position the resort as an outstanding leisure destination for our valued guests.”
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