Atalaya, the hotel investment fund of the Andorran bank Andbank, managed by Navis Capital, is studying the purchase of two hotels in Lanzarote.
The investment director of Navis, Beatriz Menéndez-Valdés, has anticipated it to the tourism news portal HOSTELTUR: Between 2021 and 2023 three acquisitions were made and “right now we are analyzing two operations in Lanzarote, which fit us very well.
The hotels would be managed by THB hotels, a family group of Spanish capital that already manages three hotels in Lanzarote. On the one hand, the THB Flora, located in the heart of Puerto del Carmen and on the other, the THB Royal and the THB Tropical Island both located in Playa Blanca.
"Although we are not going to rule out operations in Mallorca", he explained, "it would make a lot of sense, to consolidate the portfolio, to be able to enter Ibiza and the Canary Islands, which is a bit what we are missing”.
Atalaya bought its third asset in March 2022 and estimate that this year they will be able to acquire one or two more hotels and thus finish investing the money destined for purchase and repositioning.
The fund's objective is 4-star hotels with between 150 and 350 rooms, or 3-star establishments that can be repositioned, preferably on the beachfront.
With the Atalaya fund, explains Beatriz Menéndez-Valdés, "we invest where we can generate added value, either because the operator (THB) provides powerful commercialization and optimized cost management; or because we introduce Capex to reform or reposition”.
