The company specialises in family wealth management. Mazabi announced this past April, in the midst of the health crisis, its intention to invest EUR 200 million in hotel acquisitions located in the main holiday and urban destinations. The aim is to complete its portfolio of hotels in locations such as the Balearic Islands, Canary Islands, Madrid, Barcelona and Costa del Sol.
In recent years, the company has invested around 420 million to a portfolio comprising a total of 11 hotels and 3 in the process of investment. Thus, its hotel assets already represent 25% of the total. The objective defined by Mazabi for 2020 is to continue with its plan to grow its diversified portfolio in strategic locations in the main Spanish cities. It aims to end 2020 with 2,000 million euros in assets under management, compared to 1,500 million euros at the beginning of the year.
THE MAZABI OPERATION
According to Juan Antonio Gutiérrez, CEO of the company, the current state of the tourism sector in Spain, which has come to a virtual standstill due to the health crisis caused by the coronavirus, presents a great opportunity to continue with its long-term growth strategy. They are confident that confidence in the tourism sector will return in the long term and despite the fact that the options of investment have slowed down in recent months, the aim would be to incorporate new hotel assets either through acquisitions or through third party contributions to Silicius, its SOCIMI specialising in the purchase and active management of real estate.
Its strategy is focused on the search for prime location opportunities in both urban and holiday environments. The main locations would be Balearic Islands, Canary Islands, Costa del Sol, Cadiz, Madrid, Barcelona, Seville, Malaga, San Sebastian, Bilbao or Valencia.including historic centres that combine urban and holiday hotels.
RECENT PURCHASES
Following its growth strategy, Mazabi has recently completed the purchase of the future luxury Hotel Club de Regatas, located in Santander. The hotel has a total of 64 rooms and a two-year refurbishment and improvement project. In the same situation is the future 75-room Room007 in Tetuán street in Seville.
It is currently in negotiations for a new investment in the historic centre of Madrid.
MAZABI also has the Iberostar Costa del Sol Estepona, the Club Hotel Tropicana in Mallorca, the Iberostar Santa Eulalia in Ibiza, the Hotel Conil Park in Cadiz and the Hostal LH San Onofre in Madrid, among others.