Amancio Ortega buys two ’boutique’ hotels in Palma from a Swedish group for 35 million euros

2023-12-26 20:43:23

He founder and first shareholder of Inditex, Amancio Ortega, through its investment arm Pontegadea, continues to purchase real estate with the acquisition of two first ’boutique’ hotels in the center of Palma to a Swedish group for 35 million euros, sources familiar with the operation have informed Europa Press.

Specifically, the acquisition, according to the progress of the ‘Mallorca Diary‘, from the same publishing group as Girona newspaperwas made public last July, when Genova Property Group announced the divestment of the hotels Concepció by Nobis, located on Carrer Concepción, and the Nobis Palma, in the old Can Oliver, on Carrer de Caputxines, although not revealed the identity of the buyer.

It is not the first time that the founder of Inditex buys hotel propertiessince he also owns, among others, one located in Cadiz (Playaballena) and another in New York (Iberostar).

Apart from the hotel sector, Ortega recently announced the purchase of a logistics warehouse in Miami for 113 million dollars (102.97 million euros).

This way, Pontegadea continues with real estate investments after receiving this year a total of 2,217 million euros in terms of dividends from Inditex, over the 1,718 million it received for this concept last year. The founder of Inditex invests part of the dividends he receives from Inditex in the real estate sector.

Ortega has the largest Spanish real estate company, focused on the purchase and management of large buildingswith a portfolio of real estate assets mainly composed of office buildings, not residential, located in the center of large cities in Spain, the United Kingdom, the United States and Asia.

The founder of Inditex maintains leadership in Forbes ranking, after increasing wealth by 53% compared to 2022and has a fortune of 81,800 million euros, equivalent to more than double the sum of the rest of the fortunes that make up the ‘top 10’.