Hiperion Capital Management and Sunparty Real Estate have finalised their acquisition of the Beverly Playa hotel, paying 36 million euros, according to Alimarket. The hotel is part of the liquidation of the last assets owned by the bankrupt Nueva Rumasa.
The duo will invest a further nine million euros in refurbishing the property, which has more than 50 years of history, built in 1973. After completion, the PlayaSol Ibiza Hotels chain will operate the asset.
Beverly Playa has 443 rooms, gardens and three swimming pools in a nine-storey, three-star building. Located in the Mallorcan municipality of Peguera, it has a sister hotel in the Canary Islands, the Beverly Park, purchased by Servatur for €56 million.