HIP Signs With Room Mate Hotels to Open Pax Barracuda in Palma de Mallorca Following EUR23 Million Renovation

Room Mate Hotels | July 9, 2019

Madrid, 9th July 2019 -- Hotel Investment Partners (HIP), the largest owner of hotel resorts in Spain, has signed an agreement with Room Mate Hotels, the chain owned by Kike Sarasola, to manage the new Pax Barracuda hotel in Palma de Mallorca. The agreement involves two hotels (Calviá Dreams and Barracuda), which HIP will convert into one by investing EUR23 million in a full-scale refurbishment and repositioning project. The opening of this new hotel will mark the renowned Spanish chain, Room Mate Hotels' debut in the world of hotel resort management. HIP's strategy for assets such as these – large-scale properties with prized location...