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Yet another sign that Mallorca is going up-market with the announcement that Ikos Resorts has purchased the Blau Porto Petro hotel which they intend to transform into a luxury resort opening next summer.

Ikos Porto Petro will have a total of 319 rooms, equipped with terraces and private pools on the breachfront. According to media reports Ikos plans to carry out an expansion of the hotel by 2024, which will include 115 new rooms bringing the total to 434.

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The hotel will feature Ikos Infinite Lifestyle services with a premium food offer that includes six restaurants with menus designed by Michelin stars, a wine list with more than 300, the Spa by Anne Semonin Paris and a sports area with more than 10.000 sqm. Ikos Porto Petro will become the chain's seventh property in Europe and the second in Spain.

The company is investing many millions of euros in its new Mallorca resort.

The Virgin Group will be opening a luxury hotel in Banyalbufar next year and the new Hotel Formentor, now owned by the Four Season Group, could also open.