Barceló Hotel Group sells Hotel Formentor for 165 millon euros

Barceló Hotel Group sells Hotel Formentor for 165 millon euros. | EFE

Andrew EdePollensa19/12/2020 13:17
TW
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As sure as night follows day, it could have been predicted that environmentalists GOB would have had something to say after the confirmation of the sale of the Hotel Formentor.

It all has to do with arcane matters of urban planning, the intricacies of which are understood by only a select few - GOB being among them. The legality is therefore being questioned, not - it appears - to the plans to redevelop the main building but to adjoining land.

One fancies that Emin Capital, the new owners, will have been conscious of planning issues. Shelling out 165 million euros does demand a degree of due diligence.

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Four Seasons Hotels and Resorts certainly won’t want any peculiarities of Mallorcan planning to obstruct its plans to create “the best resort in the Mediterranean”. This aspiration isn’t just for the hotel; it is for Mallorca.

The future Four Seasons Formentor will mean that Mallorca becomes the most luxurious holiday destination in the Med.

At a thousand euros a night, which is what it is being said will be the price, the greatest luxury will be demanded.