GMA Corporate announces new deal with Meliá International and Bankinter Investment in one of Europe´s most relevant hotel transactions of 2021
Launching this joint venture with a portfolio of 8 hotels in Spain, GMA will also act as manager of the new corporation: VICTORIA Hotels & Resorts.
The hotels included in the transaction are: Gran Meliá Victoria (5*GL, Mallorca), Meliá Tamarindos (5*, Gran Canaria), Meliá Granada (4*, Granada), Sol Beach House (4*, Menorca), Meliá Salinas (5*GL, Lanzarote), Innside Bosque (4*, Mallorca), Meliá Atlanterra (4*, Cádiz) and Innside Zaragoza (4*, Zaragoza); with a grand total of 1.795 rooms.
Meliá International will continue to operate the hotels, which have a book value of € 200 million and are scheduled to complete full renovations and upscale repositioning with an investment of € 125 million. Bankinter’s Investment Banking area reinforces its position as a leading player in alternative investment in Spain, by launching a new investment vehicle for its clients with equity tickets of €10 million. The Net Asset Value of this portfolio is expected to grow substantially after the renovation and repositioning of these hotels; and effective asset management strategies to be implemented.
“It is a great honor for the team of GMA Corporate to be part of one of the most significant European hotel transactions of 2021 while we remain as asset and property managers of the 8 hotels portfolio. This transaction strengthens even more the relationship between Meliá International, Bankinter and GMA Corporate. In a post-corona world, we will work together as a team to contribute to the recovery of the hospitality industry, making it more sustainable and more resilient “, said Víctor Martí, Founder and CEO of GMA.
GMA corporate accounts an extensive experience in managing hotel portfolios, in part, thanks to ATOM SOCIMI, Spain`s leading hotel REIT with 28 assets in the country. Alongside this transaction, GMA Corporate intends to work together with different partners to pursue future hotel investments across Europe, drawing upon its hospitality experience and track record in hotel investment.
Independent investor and manager of real estate investment vehicles, specializing in real estate assets and projects with a hotel underlying.
In its more than 20 years of experience in the national and international market, GMA has managed and owned third-party investments, assuming different roles depending on the type of vehicle, from pure management to the figure of investor-manager.
In recent years, the team has participated in more than 400 transactions and taken part in hotel projects worth more than € 5,000 million. Today, it manages over € 1 billion in assets. Its parent company is GMA Capital, a founder partner of ATOM Hotels SOCIMI together with Bankinter.
It is the fifth Spanish bank by size, the one that obtains the most profitability among the main entities in the market and one of the most solid in the national financial system. Bankinter Investment, the entity’s Investment Banking area, has promoted an important alternative investment platform in the last five years, after launching 15 investment vehicles, with the help of partner-managers who are experts in sectors as diverse as hotels, renewable energies, student residences, infrastructures, commercial surfaces and venture capital. Bankinter has managed to capture for these vehicles a committed capital of 3,000 million euros from Private Banking and institutional clients of the bank, becoming a top reference for alternative investment in the Spanish market. Bankinter Investment has a portfolio of assets under management of more than 5,000 million euros, including project financing.
About Meliá International
Founded in 1956 in Palma de Mallorca (Spain), Meliá Hotels International has more than 380 hotels open or in the process of opening in more than 40 countries under the brands Gran Meliá Hotels & Resorts, Paradisus by Meliá, ME by Meliá, Meliá Hotels & Resorts, INNSiDE by Meliá, Sol by Meliá and TRYP by Wyndham. The Company is a world leader in the segment of holiday hotels and its experience in this field has allowed it to consolidate itself in the growing market for urban hotels inspired by leisure. Its commitment to responsible tourism has made it recognized as the most sustainable hotel chain in Spain and Europe in 2020, according to the latest SAM Corporate Sustainability Assessment, as well as the seventh company in the world (and first in the tourism sector) in sustainable management, according to the Wall Street Journal. Meliá Hotels International is also part of the IBEX 35 and is the Spanish hotel company with the best corporate reputation (Merco Ranking).