Calena Partners, the management firm founded by Felipe Klein, has completed the purchase of the Barceló Ponent Beach and the Fergus Style Tobago in Mallorca, and the Corallium Beach by Lopesan in Gran Canaria, comprising almost 900 rooms.
These hotels were previously owned by Hotel Investment Partner (HIP), a platform controlled by Blackstone and in which Singapore’s sovereign wealth fund GIC holds a stake. Neither Calena Partners nor HIP have disclosed the value of the transaction, but according to several sources consulted by Expansión, the valuation of the three assets amounts to around €200 million.
This transaction, which marks Calena Partners’ debut, has been structured as a Club Deal, with the participation of a group of Spanish family offices. Cuatrecasas, Deloitte and AZ Capital acted as advisers to Calena Partners on the transaction. The three acquired hotels are located on the beachfront and will retain their operators following the purchase.
Barceló Ponent Beach is a four-star hotel located in Cala d'Or, Mallorca, with over 400 rooms; the Fergus Style Tobago, in Palmanova, Mallorca, is a five-star hotel with 260 rooms, while Corallium Beach by Lopesan is a three-star hotel, located on San Agustín beach in the south of Gran Canaria, with 210 rooms.
The deal reflects Calena Partners’ investment strategy, focused on stabilised, refurbished leisure hotel assets with the ability to generate recurring cash flow from the outset. The firm aims to position itself as a bridge between institutional investors seeking to rotate mature assets and private capital – particularly family offices – looking to enter the hospitality sector through core and core-plus risk profiles.
Based in Barcelona, Calena Partners is committed to long-term capital preservation strategies, with investment horizons ranging from seven to fifteen years, in a context where the Spanish hotel market continues to demonstrate strong fundamentals.
