Portobello Capital eyes Blue Sea Hotels sale

Majorca at night
Majorca in the evening.

Portobello Capital is reportedly lining up the potential sale of its Blue Sea Hotels business.

The private equity firm acquired the company in 2017 and according to reports in the Spanish press is now looking to take advantage of the favourable market conditions.

The hotel group has 25 hotels, 24 of which are in Spain, including 10 in Majorca, and another in Marrakech, Morocco. The hotels are in the three and four-star range with an all-inclusive offerings.

Spanish newspaper Cinco Dias reported that the owners were testing market appetite, with pricing below what it was when the company previously tried to sell in 2019. Back then the 17 properties were valued at €230 million.