King & Wood Mallesons advised the owners of Hotel Bamboo Alcudia on the sale of this four-star hotel complex in Mallorca to Atalaya, an investment fund led by Andbank, Navis Capital and THB Hotels.
The hotel will undergo an intensive refurbishment that will transform the existing apartment complex into a four-star hotel establishment with 208 rooms and two outdoor swimming pools.
THB Hotels will manage the new Bamboo hotel in Alcudia. The complete refurbishment of the establishment will represent an investment of €10 million, according to market sources.
The refurbishment is expected to be completed in less than twelve months, after which the new THB Bamboo Alcudia aims to be a hotel benchmark of style and sustainability with the objective of competing in the upper segment of the market.
The KWM´s team of lawyers involved in this deal was led by partner and head of the Real Estate Law team José Antonio Calleja. Other lawyers involved were partner Roberto Pomares (Corporate); senior associate Candela Escribano (Real Estate) and associates Laura Moreira (Corporate) and César Báscones (Corporate).