Link Securities | Meliã Hotels (MEL) has repurchased 50% of Paradisus Salinas Lanzarote from Victoria Hotels & Resorts, a company formed by Bankinter and its high net worth clients, GMA and the hotel chain itself, according to Expansión newspaper.
The deal was closed at a price of €36.5 million, valuing 100% of the hotel at more than €70 million. As Meliá continues to hold 7.5% of Victoria Hotels & Resorts after the transaction, its final stake in this hotel is 53.75%.
Victoria Hotels & Resorts was established in June 2021 to acquire a hotel portfolio from Meliá for more than €200 million, comprising eight hotels. The transaction also involved a repositioning plan worth more than €125 million.
