The hotel will continue to operate under joint ownership between Meliá and Bankinter Investment for the next 10 years.
This acquisition forms part of Meliá’s strategic plan to expand its luxury portfolio in the Canary Islands, a region that is gaining traction as a premium, year-round destination. The Paradisus Salinas Lanzarote, which has been repositioned to meet the standards of the Paradisus brand, is Meliá’s second Paradisus-branded hotel in Europe. It follows the brand’s successful introduction in the region, with the Paradisus Gran Canaria opening earlier, marking a milestone in Meliá’s expansion outside of the Caribbean.
“For Meliá, increasing our stake in Paradisus Salinas aligns with the Group’s strategic objectives in the Canary Islands and with our brand expansion plan. It comes at an extraordinary moment for the destination, which is consolidating its position as a high-quality, year-round vacation spot. The strength of our balance sheet and the potential of this ‘historic’ asset for our company make us very comfortable with the resulting 53.75% ownership following this transaction.”- Gabriel Escarrer, President and CEO of Meliá Hotels International
The acquisition follows a recovery of Meliá’s pre-pandemic debt ratios, allowing the company to reinvest and increase its stake in this key asset.
The acquisition underscores the growing importance of Lanzarote in Meliá’s portfolio, which already includes a number of significant properties across Europe and beyond. The hotel’s repositioning, backed by an investment of over €125 million, aligns with the company’s efforts to meet the increasing demand for high-end all-inclusive resorts in the region.
“We firmly believe in Lanzarote as a destination and in the co-investment strategy we maintain in the sector with multiple projects, including VHR’s continued presence in a key asset like Paradisus Salinas. We are confident that the drive for luxury tourism will continue to increase the value of our strategic investment,” – Bankinter Investment.
The partnership between Meliá and Bankinter Investment demonstrates the continued collaboration between private investors and leading hotel operators to maximize the potential of high-value assets.
This article was written with the help of artificial intelligence using official information.
