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Saturday, January 28, 2023
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Hogan, PwC advise on Leonardo´s hotel acquisition in Mallorca

Hogan Lovells has advised Leonardo Hotels on its acquisition of the Leonardo Boutique Hotel Mallorca Port Portals, with the seller advised by PwC Tax & Legal, the second purchase of the hotel chain in the Spanish holiday sector

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In March, the Leonardo Hotels chain entered the Spanish holiday sector with the purchase of a hotel on the Costa del Sol, its tenth in Spain, as informed by Legal Dealmaker in March 14. The chain has acquired its first establishment in Mallorca, a four-star superior with 77 rooms located in Puerto Portals, which will operate under the name Leonardo Boutique Hotel Mallorca Port Portals, according to the hotel chain.

Thus, with these two latest openings, Leonardo Hotels is demonstrating its commitment to the Spanish holiday market alongside its urban offer.

The hotel, which will operate under the name Leonardo Boutique Hotel Mallorca Port Portals, is the chain’s eleventh hotel in Spain and the second to open in just two weeks following the addition of Leonardo Hotel Fuengirola Costa del Sol in mid-March. The Leonardo Hotels chain arrived in Spain in 2016 and in these six years its portfolio has grown to 11 hotels in Madrid, Barcelona, Bilbao, Granada, Malaga and now also Mallorca.

“One of our objectives for 2022 was to extend our activity to the holiday segment and we are taking the necessary steps to do so by implementing our brands and the valuable hotel know-how of our parent company -Fattal Hotel Group- in two of the most popular Spanish destinations among tourists, the Costa del Sol and Mallorca,” explained Shay Raz, managing director of Leonardo Hotels for Spain and Portugal.

The new establishment is located in the municipality of Calviá, next to the Puerto Portals marina, 10 kilometres from Palma, the Balearic capital, and 20 kilometres from the airport.

Hogan Lovells advised Leonardo with a team formed by partner and head of the firm´s Real Estate department Emilio Gómez Delgado and Real Estate associate Carlos Gil Mesino acted as legal advisor to Leonardo Hotels in the transaction, and Pwc Tax & Legal acted as legal advisor to the sellers with a team comprising partner and head of B&F in Spain Beltrán Gómez de Zayas and Corporate/M&A manager Jaime Hidalgo Labat.

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