Tenerife and Mallorca become the epicenter of a significant operation in the tourism sector. Banca March and Meliá Hotels International deepen their collaboration started in 2023 through a new joint venture, with which they will acquire the Sol Tenerife and Innside Palma Bosque hotels, valued at more than 140 million euros. This operation consolidates the commitment to high-quality hotel assets and positions both entities as sector leaders.
The agreement establishes that Banca March will hold a 70% stake, while Meliá Hotels will retain the remaining 30%. The new company will invest around 50 million euros to reposition both hotels, thus reinforcing their strategic value and tourist appeal.
- Sol Tenerife. Located on the front line of Playa de las Américas, it has 522 rooms and more than 10,000 m² of gardens and common areas. A comprehensive renovation is planned for 2026-2027, culminating with its rebranding under the Meliá brand.
- Innside Palma Bosque. Located in Palma, in the ‘bleisure’ (business + leisure) segment, with 262 rooms and a well-established gastronomic offer. Renovations are planned during the winter 2025-2026 to maintain its status as a reference hotel.
Hotel Sol Tenerife, acquired by Banca March and Meliá / E. D.
Banca March’s Strategic Co-Investment in Tourism Assets
This agreement is part of Banca March’s co-investment strategy, which since 2008 has committed more than 3.9 billion euros in illiquid assets alongside its clients, achieving a recovery multiple of twice. More than 3,900 co-investors have participated in various projects, driving the real economy and sustainable growth.
Key Statements: Commitment to Quality and Innovation
The CEO of Banca March, José Luis Acea, emphasized that the intrinsic value of the assets and Meliá’s hotel management offer clients a solid guarantee of value creation in a dynamic and constantly growing sector. Meanwhile, the Chairman and CEO of Meliá, Gabriel Escarrer, highlighted that this alliance reflects their commitment to high-prestige partners for the ownership and repositioning of hotel assets.
