The American investment fund Blackstone is preparing to sell its hotel assets in Spain, currently held under its Hotel Investment Partners (HIP) division. This move comes as the hospitality sector is experiencing strong growth, providing an opportunity for substantial returns.
From its portfolio of 71 hotels in Spain, comprising approximately 20,000 rooms, nearly 45% are located in the Canary Islands. Blackstone owns 22 hotels across the archipelago, making it the largest hotel owner in the region. These properties are managed by well-known brands such as Barceló, Lopesan, Dunas, AM Resorts, and Alua Hotels (Hyatt).
A Strategic Sale Amidst Market Growth
The potential sale follows a major refinancing operation completed in 2024 and a significant investment in the renovation and improvement of almost all its hotels.
While several national media outlets speculated last week about the upcoming transaction, Maspalomas24h confirmed yesterday that Blackstone intends to complete the sale within 2025.
Despite the change in ownership, the operation will not affect hotel management. The hotels under HIP’s portfolio are bound by long-term contracts of 20 years with their current operators. As a result, the sale is expected to be a transfer of ownership rather than a shift in operational control.
Sources close to the transaction highlight that this is not the first time these hotels have changed ownership. HIP was previously owned by Banco Sabadell until 2017, when Blackstone acquired it. The investment fund is expected to sell the entire Canary Islands package as a single entity, rather than splitting it into smaller hotel groups.
Blackstone’s Hotel Portfolio in the Canary Islands
HIP holds assets on all the Canary Islands, with Barceló as its primary operator, managing eight properties across the archipelago. These include:
Additionally, Lopesan manages five HIP-owned hotels, including:
HIP also owns four Dunas-branded hotels, including:
In addition, HIP’s portfolio includes:
Looking Ahead: The Search for a Buyer
As the tourism sector continues to thrive, Blackstone will be looking for a buyer willing to meet its financial expectations. With the Canary Islands’ strong hotel market and record-breaking visitor numbers, investors are likely to show significant interest in this high-value portfolio.
For now, the day-to-day operations of these hotels remain unchanged, ensuring continuity for both employees and guests. However, the sale will mark a new chapter in the ownership of some of the Canary Islands’ most prominent hospitality assets.
