Fattal Hotels, an Israeli investment company, has bought five hotels owned by the investment fund KKR and Dunas Capital that used to operate under the Alua Hotels & Resorts brand. The hotels, which are located in Mallorca and Ibiza, now appear in the Hyatt Hotels portfolio, as reported by Hosteltur. The total value of the operation amounts to 165 million euros, and the parties expect to complete the deal during the second half of the year.
In 2015, the British fund Alchemy bought the Majorcan hotel chain Marina Hotels, which became Alua Hotels & Resorts, a holiday chain that started with these five establishments and around 1,200 rooms. Five years ago, another five hotels from Intertur Hotels, another chain on the island were incorporated, following their acquisition by the North American fund KKR, which until now kept them in its own portfolio.
Read the full article in Spanish.