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The Idiliq hotel and tourist accommodation group has a significant presence on the Costa del Sol where it has 600 rooms in operation in Mijas and another one hundred in Marbella. It also has another 400 in Tenerife. Now the group has announced that it has bought a tourist complex in Mallorca.
It has bought Hotel Cecilia, a luxury resort located in Portocolom, from Elaia Investment Spain, SOCIMI, SA. The hotel, which is located just a few steps from the iconic Cala Marsal beach, has 129 apartments, along with gardens, swimming pool and restaurant.
According to Juan José Millán, chief strategy officer of Idiliq Group, the hotel is currently being operated by another company which has a lease until 30 September. Although Idiliq is already owner of the complex, it will not take possession until that date, when it plans to close and carry out a major refurbishment.
"Although the hotel is in good condition after a recent refurbishment, our intention is to improve above all the communal areas, the gardens and the swimming pool," explains Millán, who points out that the plan is to carry out the work between October this year and spring next year in order to be able to reopen the hotel for Easter 2026, coinciding with the start of the high season.
The group has not provided investment data as the purchase price of the hotel cannot be made public at the moment and the investment in the required building work is not yet known. "We know that construction prices on the Balearic Islands are more expensive than on the mainland and that it is a challenge because the availability of construction companies is scarce and all businesses want to undertake the reforms on the same dates," said the group's head of strategy, who pointed out that they will soon go out to tender for the work.
Millán explained that the group had been looking to invest in Mallorca and the Balearic Islands for some time as part of its expansion strategy. "Within Spain we have a presence on the Costa del Sol and in the Canary Islands and for us it was important to conquer the Balearic Islands. It is one of the most desirable destinations in Europe, which will also allow us an international projection," said the manager.
Just a few months ago the Idiliq group celebrated its fortieth anniversary, pioneering the concept of combining luxury apartments with first class hotel services.
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