Ibiza will have its first NH Collection hotel with the transformation of the emblematic Sir Joan. Real estate investment manager AX Partners, based in Barcelona and Luxembourg, has acquired the iconic Sir Joan Hotel in Ibiza in a deal valued at 28 million euros, which includes its purchase and an ambitious renovation.
This project aims to reposition the hotel under the standards of the prestigious NH Collection brand, marking a milestone in the island’s tourism sector. It will have 38 rooms and suites, with privileged views of the port of Vila and the old town. The initiative contemplates a significant investment to modernize its facilities, respecting the essence of the building, while enhancing both the quality of its services and its overall attractiveness. As Aleix Recasens, founding partner of AX Partners, explained to Revista Hostelería, “the Sir Joan has been a reference in design and location in the city of Ibiza, we acquired it with the aim of boosting its returns from the hand of a reference brand and a stronger contract“. In addition, he added that “we have chosen NH Collection because of its solvency and ability to manage premium hotels in iconic destinations while maximizing the efficiency of its hotels, as well as its expertise in successfully managing leisure and restaurant offerings”. The chief executive officer of Minor Hotels Europe & Americas, Gonzalo Aguilar, said, “The entry of our NH Collection brand into the Balearic Islands tourism market is excellent news. We will also position ourselves with an emblematic asset that will strengthen both our presence in Spain as a whole and our offer in a key location for our main outbound markets in the rest of Europe. It is also a significant milestone that coincides with the tenth anniversary of our NH Collection brand, which has established itself as a benchmark of quality around the world”.
In parallel, AX Partners’ expansion strategy includes the acquisition of a new hotel on the Costa Brava in the coming months, where it will also carry out a revaluation and optimization of its management together with a leading hotel brand. If completed, the firm will manage hotel assets valued at 80 million euros.
“Ourpriority is to consolidate our position as one of the leaders in hotel operations in Spain, a solid partner for our investors and the major operators and brands in the market. Our investment strategy is focused on unique and emblematic assets, small jewels in the best locations, to which we can add value,” said Recasens, according to Revista Hostelería.
