Banca March has acquired two hotels, Sol Tenerife and Innside Palma Bosque, for approximately 190 million euros, strengthening its partnership with Meliá Hotels International and enhancing its strategic investment in the Spanish hotel market.

Information on the Target

Banca March has recently finalized the acquisition of two notable hotels, Sol Tenerife and Innside Palma Bosque, to enhance its strategic partnership with Meliá Hotels International. This transaction, valued at approximately 190 million euros, involves a 70% shareholding by Banca March and 30% by Meliá Hotels International.

Sol Tenerife is an iconic property located on the beachfront of Playa de las Américas, boasting 522 rooms and over 10,000 square meters of gardens and common areas. An extensive renovation is planned for 2026-2027, which will culminate in its rebranding under the Meliá brand. Innside Palma Bosque, situated in Palma de Mallorca, features 262 rooms and a renowned culinary offering. It lies strategically between the Pedro Marítimo and Bellver Forest and is set for renovations during the winter of 2025-2026 to solidify its position as a leading hotel in the city.

Industry Overview in Spain

The Spanish hotel industry has demonstrated resilience and growth over recent years, being one of the most significant economic sectors in the country. With