In June 2021, the company Victoria Hotels & Resorts was established, with ownership shared between Bankinter and its high-net-worth clients, alongside Meliá and GMA, which also joined as managing partner. The transaction involved the acquisition of a hotel portfolio from the Group for over €200 million, along with a repositioning plan worth more than €125 million. The deal offered an attractive investment opportunity to a select group of Bankinter Investment clients, in partnership with a top-tier operator like Meliá Hotels International (MHI). For Meliá, the operation supported its goals of increasing liquidity following the COVID-19 crisis and accelerating the transformation and repositioning of several assets, in line with the Group’s brand strategy.
The investment allowed for the repositioning of this iconic asset, converting it into the first Paradisus-branded hotel in Europe. With this, Meliá fulfilled its ambition to introduce the Paradisus brand outside of the Caribbean for the first time — a project that was well received in the market and paved the way for the subsequent openings of Paradisus Gran Canaria and the upcoming Paradisus Fuerteventura, to be followed by Paradisus Bali at the end of 2025.
After recovering its pre-pandemic debt ratios (already achieved by the end of 2024), Meliá's strengthened financial position now allows it to regain control of a majority stake in this strategic property, while reinforcing its collaboration with a key partner in the sector such as Bankinter Investment. Meliá will retain joint ownership of this asset with Bankinter for the next 10 years. Meanwhile, Victoria Hotels & Resorts and asset manager GMA continue their asset rotation strategy, as previously done with other properties recently divested, over which Meliá Hotels International has retained management. The repositioning of the asset, together with this announced transaction, brings both parties closer to their return-on-investment targets, following the successful market reception of the Paradisus brand in this destination.
The Paradisus by Meliá brand was born in the 1990s in top Caribbean destinations, developed by the hotel group as an innovative offering for a fast-growing demand segment in vacation destinations such as Mexico, the Dominican Republic, Costa Rica and Cuba. More than 30 years later, as the demand for luxury all-inclusive resorts expands into new geographies, Meliá designed an ambitious expansion plan for Paradisus, beginning in the quintessential vacation destination of the Canary Islands. The brand debuted in Europe in the summer of 2023 with the opening of Paradisus Salinas Lanzarote and Paradisus Gran Canaria. The expansion will continue this summer with the opening of Paradisus Fuerteventura — an exceptional product in an iconic location on the island, a favorite among beach and surf lovers from around the world.
Altogether, Paradisus will offer nearly 1,000 rooms in the Canary Islands this year — a clear sign of the Group’s commitment to high-quality tourism in the archipelago, which boasts unique strengths. As Gabriel Escarrer, Chairman and CEO of Meliá Hotels International, highlights:
“For Meliá, increasing our stake in Paradisus Salinas aligns with the Group’s strategic objectives in the Canary Islands and with our brand expansion plan. It comes at an extraordinary moment for the destination, which is consolidating its position as a high-quality, year-round vacation spot. The strength of our balance sheet and the potential of this ‘historic’ asset for our company make us very comfortable with the resulting 53.75% ownership following this transaction.”
Bankinter Investment added:
“We firmly believe in Lanzarote as a destination and in the co-investment strategy we maintain in the sector through various projects. This includes VHR’s continued involvement in a key asset like Paradisus Salinas. We are confident that the ongoing growth of luxury tourism will continue to increase the value of our strategic investment.”
Victor Martí, CEO of GMA, commented:
“This new transaction allows us to continue working on the long-term recovery and repositioning of this historic asset. The new ten-year contract will continue to create value for shareholders and for the Paradisus brand in an iconic and unique resort. It is a privilege for the GMA team to remain involved in this project and to deliver tailored solutions alongside Bankinter Investment and Meliá Hotels International.”
Bankinter Investment, the investment banking arm of Bankinter, has successfully launched 28 alternative investment vehicles over the past seven years, with more than €5.1 billion in committed capital from investors. Including project financing, the assets under management now exceed €7.4 billion.
Bankinter Investment is a reference player in Spain and Portugal in the field of alternative investment vehicles. Its model has enabled more than 14,700 Spanish and Portuguese investors to co-invest alongside Bankinter and its partners, fostering long-term financial savings by diversifying into real assets, optimizing the risk-return balance, and generating enduring value for society.
For asset management, Bankinter Investment has always partnered exclusively with expert firms in each investment segment — from renewable energy, sustainability, student housing, hospitality, logistics, infrastructure and technology, to retail, residential and private equity. In 2022, under the new regulatory framework established by Law 18/2022, Bankinter Investment SGEIC was created — a Bankinter Group company specialized in managing alternative assets.
Founded in 1956 in Palma de Mallorca (Spain), Meliá Hotels International operates over 400 hotels either open or in the pipeline across more than 40 countries, with 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 a global leader in the vacation hotel segment and has leveraged its expertise to expand successfully into the growing market of leisure-inspired urban hotels. Its commitment to responsible tourism has earned it recognition as the most sustainable hotel company in Europe (featured in S&P Global’s “Sustainability Yearbook Member” for both Europe and the world for seven consecutive years), and it was recently named “Top Employer Large Enterprise 2025.” For more information: www.meliahotelsinternational.com
GMA is an independent, capital-backed real estate firm specializing mainly in hotel-related assets, focused on investment, asset management and real estate development. GMA has a highly experienced professional team with a strong track record in both national and international markets.
The firm has managed both proprietary and third-party investments, taking on different roles depending on the type of company and project — including opportunity identification, fund structuring, acquisition and sale, management, co-investment, development, operation and divestment of assets.
In recent years, GMA has completed over 500 transactions and projects worth more than €5 billion. It currently manages over €1.5 billion in assets across all the entities it participates in.
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