GRUPO EMPRESAS MATUTES AGREES WITH AZORA TO ACQUIRE THREE HOTEL ASSETS IN THE MEDITERRANEAN

GRUPO EMPRESAS MATUTES AGREES WITH AZORA TO ACQUIRE THREE HOTEL ASSETS IN THE MEDITERRANEAN

• Grupo Empresas Matutes acquires Azora’s 75% stake in three hotels located in Ibiza and Sicily, with nearly 1,000 rooms.
• The transaction, valued at €300 million, marks the successful completion of the joint venture created in 2019 between Grupo Empresas Matutes and Azora to transform and enhance the value of three high-quality hotel assets.
• The properties will continue to be operated by Palladium Hotel Group under the Bless, TRS, and Grand Palladium brands.

Madrid, 2 March 2025 –Grupo Empresas Matutes has reached an agreement with Azora to acquire its 75% stake in the joint venture created in 2019, which includes three five-star hotel assets located in strategic Mediterranean destinations: Ibiza (Spain) and Sicily (Italy).

The three properties total nearly 1,000 rooms and operate in the luxury and premium all-inclusive segments, categories that have shown solid performance in recent years in terms of demand, rate positioning, and profitability.

The assets included in the transaction are:

BLESS Hotel Ibiza, a luxury hotel with 151 rooms located in Cala Nova (Ibiza), a benchmark in the island’s luxury lifestyle segment and part of the BLESS Collection Hotels brand.

TRS Ibiza Hotel, a five-star, all-inclusive, adults-only resort with 376 rooms, located in Cala Gració (Ibiza), positioned in the premium segment with an experience-driven offering aimed at the international guest.

Grand Palladium Sicilia Resort & Spa, a five-star resort with 469 rooms located on the north coast of Sicily, focused on the family holiday segment.

The transaction, valued at €300 million, marks the successful completion of the joint project between Grupo Empresas Matutes and Azora to transform and enhance the value of three high-quality hotel assets. With this operation, Grupo Empresas Matutes assumes full control of the three establishments, reinforcing its commitment to sustainable and long-term development in these two leading Mediterranean destinations.

“With this transaction we complete a strategic project launched in 2019 with Azora for the joint development of assets in the Mediterranean. We remain committed to creating value in these unique destinations, strengthening their positioning and continuous evolution under the highest standards of excellence, always under the management of Palladium Hotel Group. We would also like to thank Azora for its trust and for the journey we have shared during this period. We look forward to exploring new opportunities for collaboration in the future,” emphasized Abel Matutes, Vice Chairman of Grupo Empresas Matutes.

For their part, Javier Arús and Gonzalo García-Lago, partners responsible for hotels at Azora, highlighted: “this transaction represents the successful culmination of a very exciting project developed jointly with the Palladium Hotel Group. Over these years, both parties have contributed to the growth of the destinations, not only by fully transforming the assets but also by driving highly innovative concepts and opening new markets. At Azora, we intend and are eager to continue contributing to the development of the hotel industry alongside the Palladium Hotel Group in further hotel projects across Europe.”