GA_P advises Banca March on €140M JV with Meliá Hotels

Gómez-Acebo & Pombo (GA_P) has advised Banca March on the formation of a strategic joint venture with Meliá Hotels International for the acquisition of two prominent hotel assets: the Sol Tenerife Hotel and the Innside Palma Bosque. The total value of the transaction is approximately €140 million, with an additional €50 million earmarked for refurbishment and repositioning of both properties.

The operation marks a significant move in the Spanish hospitality and investment sector, aligning the financial strength of Banca March with the hotel management expertise of Meliá Hotels.

GA_P provided comprehensive legal counsel on the transaction through a cross-disciplinary team based in its Madrid office. The team included partner Santiago Gómez-Acebo (pictured left) and María Fanego from the Regulatory and Finance practice; counsel Valentina Rodríguez Hernández (pictured centre), Luis Nicolás Pinedo Martín, and Gemma Serra Martínez from the Corporate team; and counsel Remedios García Gómez de Zamora (pictured right) from the Tax department.