Grupo Empresas Matutes has reached an agreement with Azora to acquire its 75% stake in the joint venture created in 2019, which includes three five-star hotels in Ibiza and Sicily, totaling nearly 1,000 rooms. The transaction, valued at €300 million, successfully concludes the joint project to transform and enhance the value of these assets. The properties - BLESS Hotel Ibiza, TRS Ibiza Hotel, and Grand Palladium Sicilia Resort & Spa - will continue to be operated by Palladium Hotel Group under their respective brands.

With this transaction, Grupo Empresas Matutes assumes full control of the assets and strengthens its commitment to sustainable, long-term development in two key Mediterranean destinations.

As highlighted by Javier Arús and Gonzalo García-Lago, partners responsible for hotels at Azora: “This transaction represents the successful culmination of a very exciting project developed jointly with Palladium Hotel Group. Over these years, both parties have contributed to the growth of the destinations, not only by fully transforming the assets but also by promoting highly innovative concepts and opening new markets. At Azora, we intend and are eager to continue contributing to the development of the hotel industry alongside Palladium Hotel Group in further hotel projects across Europe.”

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