Ikos To Open Second Spanish Resort After Mallorca Acquisition Of Blau Porto Petro For €110m
Main Photo: The View From The Hotel
Date: September 2021
Name: Blau Porto Petro – to re-open April 2023 to rebranded Ikos Porto Petro
Location: Mallorca, Spain
Number of Keys: 319
Seller: Roxa Group, who remain a minority partner
Buyer: Ikos Resorts
Ikos Resorts, the Greece-based all-inclusive hotel group, reportedly acquired the 319-key Blau Porto Petro in Mallorca, Spain for €110 million. Following the acquisition, Ikos intends to implement an extensive property improvement plan, expanding its key count to 434 and target a reopening in April 2023 under its Ikos brand.
Ikos will open its second resort in Spain after agreeing to buy the Blau Porto Petro hotel in Mallorca from the Roxa Group.
According to the Hosteltur website, Roxa will stay on as a minority partner.
The new resort will be renamed Ikos Porto Petro and when it reopens in April 2023 it will have 319 rooms, with capacity increased to 434 by 2024.
“We are confident that this new project will be a great success for Ikos Resorts. The entry into Mallorca , one of the most iconic destinations for tourism worldwide, and the exclusivity of Porto Petro, provide us with an incomparable setting so that our clients can enjoy an Infinite Lifestyle experience of destination and product at the highest level ,” Luis Herault , CEO of Ikos Iberia, said.
Ikos Porto Petro follows the luxury all-inclusive specialist’s debut in the Spanish market Ikos Andalusia, which opened earlier this year. The company has four resorts in Greece and is developing another in Portugal.
THPT Comment: Ikos progressing nicely with the further acquisition in Mallorca
First Seen: Hospitality Insights
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