Aerial view of the Hotel Formentor

Aerial view of the Hotel Formentor. Archive photo.

15-07-2013R.L.

Foreign investors are reportedly queuing up to buy the Formentor, A Royal Hideaway Hotel which sits in 1,200 hectares of land in Majorca.

It’s currently owned by the Barceló Hotel Group but according to the rumour mill, an American buyer has offered more than 100 million euros for the property.

The Barceló Hotel Group bought the Hotel in 2006 for 70 million euros and occupation has increased over the years, but bookings still plummet in the off season forcing the hotel to close from the end of October until the beginning of April.

Investors are reportedly planning to make a raft of changes and are keen to turn the hotel into an International Centre offering luxury body and spa treatments to entice guests to come back during the winter months.

It was designed by Adam Diehl, dates back to 1929 and passed through several hands before it was bought by Miguel Francisco Buades in 1954.

The hotel faces Formentor Beach, has 127 rooms with either ocean or forest views, two swimming pools, Tennis Courts and a selection of indoor and outdoor restaurants.

The co-chair of the Barceló Group, Simón Pedro Barceló, bought the Formentor, A Royal Hideaway Hotel on the 75th anniversary of the Barceló Group and he will also make the final decision on the sale of the property.

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