AX Partners, a private equity real estate investment manager based in Barcelona and Luxembourg, has announced that it is in the process of acquiring three new hotels in Sitges, Costa Brava and Ibiza. Ibiza. The deal is part of its ambitious expansion plan in the hotel sector in Spain and will consolidate its position in the market, adding 80 million euros in assets under management. The firm, which recently sold an emblematic building on Avenida Diagonal in Barcelona, is focusing on properties with high appreciation potential, in line with its value add investment strategy. According to Aleix Recasens, founding partner of AX Partners, this strategy seeks to revitalize historic assets and transform them into highly profitable spaces, as was already done with the Barcelona building, which was restored and repositioned for the hotel market.
A commitment to asset revaluation
Recasens explains that the recent sale in Barcelona “has meant the revaluation of an asset in decline, transforming it into a prime and profitable space, which represents an important contribution to the city”. With the acquisition of the hotels in Sitges, Costa Brava and Ibiza, AX Partners advances in its goal of being the leading private equity manager in hotel operations in Spain in recent years. In addition to these acquisitions, the company plans to announce in the coming weeks new strategic investments in unique assets, maintaining its focus on developing properties that generate value and prestige in their surroundings.
