Victoria Hotels & Resorts successfully closes the sale of two assets

Victoria Hotels & Resorts, the alternative investment vehicle promoted by Bankinter Investment, GMA and Meliá Hotels International (MHI), has completed the divestment of two of its flagship assets: Hotel Innside Zaragoza, acquired by a private investor; and Hotel Innside Palma Bosque, purchased by the joint venture created between Meliá and an institutional investor.

Both operations are the result of purchase options granted to MHI when the vehicle was formed in June 2021, as part of an investment strategy that combines profitability, professional management and high specialisation in hotel assets.

Capital gains and profitability

The divestment of these two assets generates significant capital gains for the alternative investment vehicle and its investors. The execution of the purchase options for Innside Zaragoza and Lierinto, owner of Innside Palma Bosque, was carried out for an aggregate asset value of 74 million euros, representing a capital gain of 36 million euros (95%). The joint IRR is an unleveraged 25% at asset level for the Victoria Hotels & Resorts vehicle, compared with a 9% leveraged return target for investors.

Active management, repositioning and investment success

Since its inception, Victoria Hotels & Resorts has implemented an active asset management strategy, under the direction of GMA as the specialised asset manager and Meliá as the hotel operator. This period has seen more than 125 million euros invested in the comprehensive refurbishment of assets with the aim of repositioning them in the market, maximising their value and adapting them to the evolving business.

With 102 rooms, a rooftop infinity pool and multifunctional spaces, the Innside Zaragoza has established itself as a lifestyle benchmark in the city centre.

The Innside Palma Bosque, with 262 rooms and a strategic location next to the marina, has been modernised to meet the demands of urban and business travellers.

A portfolio with growth and appreciation potential

Victoria Hotels & Resorts currently holds a portfolio of six hotels in key destinations in the Spanish holiday market: Gran Meliá Victoria (Mallorca), Paradisus Gran Canaria (Gran Canaria), Meliá Granada (Granada), Villa Le Blanc Gran Meliá (Menorca), Paradisus Las Salinas (Lanzarote) and Meliá Zahara Resort & Villas (Cádiz).

As the vehicle's manager, GMA reaffirms its leadership in the transformation and value enhancement of hotel assets, implementing an investor-oriented strategy that combines market analysis and operational expertise.

About Bankinter Investment 

Over the past seven years, Bankinter Investment has successfully launched 28 alternative investment vehicles with over 5.1 billion euros in investor commitments. Including project financing, this currently represents a portfolio of assets under management exceeding 7.4 billion euros.

The drive for alternative investment vehicles, in which Bankinter Investment is a leader in Spain and Portugal, has enabled more than 14,700 Spanish and Portuguese investors to co-invest with Bankinter Investment and its partners, with a clear focus on promoting long-term financial savings, diversifying into real assets, optimising risk-return ratios and generating lasting value for society.

Bankinter Investment's asset management in all vehicles has followed the model of forming an exclusive alliance with an expert partner in each investment segment, such as renewable energies, sustainability, student housing, the hotel sector, real estate, infrastructures, technology, commercial and residential properties and venture capital. At the end of 2022, under the new regulatory framework established by Law 18/2022, Bankinter Investment SGEIC was established as an entity of Bankinter Group specialising in the management of alternative assets

About GMA

GMA is an independent capital company specialising in real estate, with primarily hotel assets, focused on investment, asset management and real estate projects. The GMA team of experts has more than 30 years of experience in the national and international market.

The company has managed its own and third-party investments, taking on different roles according to the type of company and project, from the identification of opportunities, structuring of funds, buying and selling, management and co-investment to the promotion, operation and divestment of assets.

In recent years it has been involved in more than 500 transactions and projects worth over 5 billion euros. It currently manages more than 1.5 billion euros in assets across all the companies in which it participates.

About Meliá Hotels International

Founded in 1956 in Palma de Mallorca (Spain), Meliá Hotels International has more than 430 hotels, either open or in the process of opening, in over 40 countries and a portfolio of nine brands: Gran Meliá Hotels & Resorts, ME by Meliá, The Meliá Collection, Paradisus by Meliá, Meliá Hotels & Resorts, ZEL, INNSiDE by Meliá, Sol by Meliá and Affiliated by Meliá. The company is one of the world's leading hotel chains in the resort hotel segment and its expertise in this field has enabled it to acquire a solid reputation in the growing market for leisure-inspired urban hotels. Its commitment to responsible tourism has earned it the distinction of being named the most sustainable hotel chain in Europe (chosen as a Sustainability Yearbook Member in 2025 by S&P Global) and a Top Employer in the 10 countries that house 95% of its workforce of more than 40,000 employees.“” “” For more information, visit www.meliahotelsinternational.com