Azora sells three hotels to Grupo Empresas Matutes

Grupo Empresas Matutes has finalised an agreement with Azora to purchase Azora's 75% share in their 2019 joint venture. 

Hotel Bless Ibiza

This deal, valued at €300 mln, transfers full control of three five-star hotel properties—two in Ibiza, Spain, and one in Sicily, Italy—to Grupo Empresas Matutes.
These three hotels collectively offer nearly 1,000 rooms and operate within the high-performing luxury and premium all-inclusive segments. 
The properties involved are Bless Hotel Ibiza, a 151-room luxury lifestyle hotel in Cala Nova, Ibiza; TRS Ibiza Hotel, a 376-room, five-star, adults-only, all-inclusive resort in Cala Gració, Ibiza; and Grand Palladium Sicilia Resort & Spa, a 469-room family-oriented five-star resort located on Sicily's north coast.
This acquisition signifies the successful conclusion of the joint project between Grupo Empresas Matutes and Azora, launched in 2019, for the joint development of assets in the Mediterranean.
Abel Matutes, vice chairman of Grupo Empresas Matutes, said: “We remain committed to creating value in these unique destinations, strengthening their positioning and continuous evolution under the highest standards of excellence, always under the management of Palladium Hotel Group. We would also like to thank Azora for its trust and for the journey we have shared during this period. We look forward to exploring new opportunities for collaboration in the future.” 
Javier Arús and Gonzalo García-Lago, partners responsible for hotels at Azora, highlighted: “This transaction represents the successful culmination of a very exciting project developed jointly with the Palladium Hotel Group. Over these years, both parties have contributed to the growth of the destinations, not only by fully transforming the assets but also by driving highly innovative concepts and opening new markets. At Azora, we intend and are eager to continue contributing to the development of the hotel industry alongside the Palladium Hotel Group in further hotel projects across Europe.”