Pictet Alternative Advisors has acquired the Kimpton Aysla Mallorca for an undisclosed amount.
The deal for the five-star hotel has been structured through a joint venture with the current owner, in which Pictet has a majority stake.
The property, which is scheduled to open in mid-2022 after construction work has been completed, will be managed by IHG Hotels and Resorts under its luxury lifestyle brand Kimpton Hotels and Restaurants.
The hotel will be the brand’s first resort hotel in Spain and the second in the country. And will feature two outdoor and one indoor swimming pools, a spa and wellness area, a gym, and meeting and convention rooms.
Colliers acted as strategic and financial advisor on the transaction.
What They Said
Pablo Granell, head of real estate for Spain and Portugal, Pictet Alternative Advisors: “The Spanish hotel market is part of our investment focus, so we are pleased to have access to one of its main tourist destinations through a new-build asset, with very high levels of quality and sustainability, and from a leading international operator that is strongly committed to developing its Kimpton brand in Europe.”