AX Partners has acquired the Sir Joan Hotel in Ibiza in a transaction valued at €28 million, including its purchase and subsequent revaluation.
The private equity real estate investment firm plans to make capex investments to renovate the facilities and turn the hotel into the first NH Collection Hotels & Resorts in the Balearic Islands.
AX Partners says it expects the new 5-star NH Collection Marina Ibiza consolidate its position as a significant player in the hotel investment market in Spain. The company’s portfolio currently comprises properties across Sitges, Barcelona, Formentera and Mallorca.
What they said
Aleix Recasens, founding partner of AX Partners: “We’ve acquired The Sir Joan Hotel with the aim of boosting its returns with the help of a leading brand and have chosen NH Collection due to its ability to manage premium hotels in iconic destinations, maximise the efficiency of its hotels, as well as its expertise in successfully managing leisure and restaurant offers.”