Hotels are also bought and sold during the tourist season. This was the case of the Nobis in Palma’s old town. Amancio Ortega, Spain’s biggest fortune Acquired two organizations this summer It is operated by the Swedish chain in Ciutat. The founder of Inditex did this through Pontegadea. family office It brings together all your real estate and business investments.
The sale of Concepció and Nobis Hotel Palma by Nobis (while their renovation was still nearing completion) was announced to the public by Genova Property Group on July 3. The Stockholm-based real estate company has announced that it will dispose of two hotel properties in Palma for approx. 35 million euros (about 410 million crowns). It was not disclosed who signed the agreement.. Common sense is the obsession of the boss born in Leon. However, it turned out that for this public limited company listed on Nasdaq Stockholm, namely the Stockholm Stock Exchange, they got rid of two assets in Spain that had lost their long-term strategic character.
In 2016, Genova bought the two stately houses in Concepció Street and Can Oliver on Les Caputxines Street, with the intention of turning them into luxury hotels and renting them out after they were restored.
This is how Nobis Hospitality came into play. This is a Swedish family band founded in 1987. Alessandro Catenacci, Italian from a family of restaurateurs who moved to Stockholm in the fifties. It specializes in the operation of hotels, restaurants, bars, nightclubs and meeting and event rooms in “world-class” and “historically prominent” buildings. Like two Mallorcan country houses. Its activities were concentrated in Stockholm. Hotel division that is “neither a chain nor a franchise” –dixit Featured on the website to highlight each establishment’s personality, this resort consists of nine unique accommodations. The company’s flagship is the 201-room Nobis Hotel Stockholm, which opened in 2010. There are a total of six hotels in Stockholm, one in Copenhagen and two in Palma.
Its debut in Mallorca took place in 2021 with the opening of the 31-room Concepció. And last October, Nobis Hotel Palma was opened with the participation of the chef, with its 37 rooms and NOI restaurant. Xema Alvarez.
Came out with its new owner
When Can Oliver was released, it was revived as a hotel boutique The two properties that Nobis leased to Genoa on long-term contracts, the five-star properties, were already in the hands of Spain’s main real estate group, Pontegadea.
As far as is known, the rich man already owns three properties in Ciutat; The other is the Born building, which was purchased in 2014.
Swedish investors are present throughout the real estate value chain, acquisitions, property management, residential projects, commercial spaces or urban developments with rental housing, particularly in Stockholm and Uppsala. According to a press release last July, the two properties leased to Nobis Hospitality in Palma were “under-leveraged” and the divestiture provided them with liquidity to reduce the company’s debt. Seven years after buying homes that were “vacant in 2016” and turning them into luxury hotels Genova has a “total leasable area” of approximately 5,300 square meters for its CEO, Michael Moschewitz, Getting rid of them was “rewarding”.
Business with Miguel Fluxá
Thus Amancio Ortega became the new landlord of the Italian-Swede Alessandro Catenacci in Ciutat. This modus operandi Founder of the textile giant. “It buys buildings that already have tenants and therefore guarantee profitability,” industry insiders explain. The lease agreement is for twenty years.
The two hotels are increasing their ownership of the Zara building in El Born, which it bought for 39 million euros in 2014.
The Inditex founder’s hotel portfolio is growing in and outside Spain, with more threads in Mallorca. Without going any further, he owns the Iberostar 70 Park Avenue in New York, the only Iberostar hotel in the United States. He bought it for 61 million in 2016, while it was managed by the group. Miguel Fluxa. Daughter on the other hand Sandra Ortega signed agreements this year Barcelona.