• Transaction / Assets
    50.1% of Hotel Abama Golf & Spa de Tenerife
  • Seller
    Tropical Hoteles (Polanco family)
  • Buyer
    HI Partners
  • € MM

HI Partners Acquires Remaining 50.1% of Hotel Abama in Tenerife

12 March 2018 – Expansión

HI Partners has been making its first acquisitions since being taken over by Blackstone Real Estate. Banco Sabadell’s former hotel holding company has taken ownership of 100% of Hotel Abama Golf & Spa de Tenerife after acquiring the 50.1% share capital that it did not yet control from the Polanco family.

The company led by Alejandro Hernández Puértolas already purchased 49.9% of the luxury Canarian tourist resort from Tropical Hoteles – a subsidiary of the Polanco’s investment group, Timón – a year ago, and has now become its sole owner.

Luxurious five-star resort

Ritz Carlton is going to continue managing the establishment, which has a luxury five-star rating and 461 rooms, of which 148 are villas. Located in the town of Guía de Isora, the resort was designed by Melvin Villarroel. It spans a surface area of 90,000 m2 and has a two-starred Michelin restaurant run by the chef Martín Berasategui.

HI Partners, which Blackstone acquired last year for €630 million, owns 16 hotels comprising 4,684 rooms, which are operated by chains such as Ritz-Carlton, AC by Marriot, Lopesan and Meliá.

Original story: Expansión (by S. Saborit)

Translation: Carmel Drake

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