Pictet Buys Kimpton Hotel in Mallorca
Main Photo: The Kimpton Hotel, Mallorca
Date: March 2022
Name: Kimpton Aysla Mallorca – to open mid-2022
Location: Calvia, Mallorca, Spain
Number of Keys: 79 suites
Seller: A Pictet related company
Buyer: Swiss-based Pictet Alternative Advisors, currently invested in over 950 properties across the globe, through funds and co-investment deals, and manage USD 3.3bn of assets. This is their first hotel in Spain
Pictet Alternative Advisors has acquired the Kimpton Aysla Mallorca for an undisclosed amount.
The deal for the five-star hotel has been structured through a joint venture with the current owner, in which Pictet has a majority stake.
The property, which is scheduled to open in mid-2022 after construction work has been completed, will be managed by IHG Hotels and Resorts under its luxury lifestyle brand Kimpton Hotels and Restaurants. The establishment is located in Santa Ponsa and occupies a 21,840 sqm plot next to the Santa Ponsa Golf Club and the Santa Ponsa Tennis Club.
The hotel will be the brand’s first resort hotel in Spain and the second in the country. The hotel will feature two outdoor and one indoor swimming pools, a spa and wellness area, a gym, and meeting and convention rooms.
Colliers acted as strategic and financial advisor on the transaction.
Pablo Granell, head of real estate for Spain & Portugal, Pictet Alternative Advisors said: “The Spanish hotel market is part of our investment focus, so we are pleased to have access to one of its main tourist destinations through a new-build asset, with very high levels of quality and sustainability, and from a leading international operator that is strongly committed to developing its Kimpton brand in Europe.”
Price: Undisclosed
THPT Comment: The brand will do well in Mallorca, where class hotels need to stand out
First Seen: Hospitality Insights
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