The divestment concerns the Innside Zaragoza and Innside Palma Bosque hotels, which will continue to be operated by Meliá Hotels International.
The transaction generates significant capital gains of 95% relative to the assets’ initial value.
Victoria Hotels & Resorts, the alternative investment vehicle promoted by Bankinter Investment, GMA, and Meliá Hotels International (MHI), has completed the divestment of two of its flagship assets: the Hotel Innside Zaragoza, acquired by a private investor, and the Hotel Innside Palma Bosque, purchased by the joint venture created between Meliá and an institutional investor.
Both transactions result from the purchase options in favor of MHI agreed upon at the vehicle’s inception in June 2021, as part of an investment strategy that combines attractive returns, professional management and high specialization in hotel assets.
Capital gains and profitability
The divestment of these two assets generates significant capital gains for the alternative investment vehicle and its investors. Exercising the purchase options for Hotel Innside Zaragoza and Sociedad Lierinto, owner of Hotel Innside Palma Bosque, was carried out for a combined asset amount of €74 million, representing a capital gain of €36 million (95%). The combined unlevered internal rate of return (IRR) at the asset level for Victoria Hotels & Resorts exceeds 25%, compared to a leveraged target return of 9% for investors.
Active management, repositioning and investment success
Since its inception, Victoria Hotels & Resorts has deployed an active asset‐management strategy, under GMA’s direction as the specialized manager and with Meliá as the hotel operator. During this period, over €125 million has been invested in the comprehensive renovation of the assets, aiming to reposition them in the market, maximize their value and adapt them to evolving business trends.
The Hotel Innside Zaragoza, with 102 rooms, a rooftop featuring an infinity pool and multifunctional spaces, has become a lifestyle benchmark in the urban center.
The Innside Palma Bosque, with 262 rooms and a strategic location next to the marina, has been modernized to meet the needs of urban and business travelers.
A portfolio with growth potential and revaluation prospects
Victoria Hotels & Resorts currently maintains a portfolio of six hotels in key Spanish vacation destinations: Gran Meliá Victoria (Mallorca), Paradisus Gran Canaria (Gran Canaria), Meliá Granada (Granada), Villa Le Blanc Gran Meliá (Menorca), Paradisus Las Salinas (Lanzarote) and Meliá Zahara Resort & Villas (Cádiz).
GMA, as the manager of the vehicle, reaffirms its leadership in transforming and revaluing hotel assets by executing an investor‐oriented strategy that combines market analysis with operational expertise.
