Emin Capital Acquires Barcelo’s Hotel Formentor for c. €100M

Andorran Fund Emin Capital has acquired the Formentor hotel from Grupo Barceló for c. €100M and hired Estudio Lamela to refurbish the emblematic property in Mallorca, which will house the second Four Seasons Hotel in Spain. The hotel will have 110 rooms and will be ready by 2023. The refurbishment works will affect an area of 20,000 square meters.

The historic hotel, the vision of Argentine millionaire & poet Adan Diehl built in 1929 on the idyllic and secluded bay of Pollença, has for decades been a Mediterranean paradise for royalty, celebrities and intellectuals attracted by the beautiful Formentor Bay.

Carlos Lamela, President of Lamela Group, says:«In this important project, Estudio Lamela wants to preserve the essence with which the Argentine poet, businessman and entrepreneur, Adan Diehl, gave life to his particular dream in 1929, in a then semi-unknown bay and in a country where tourism hardly existed. Adan Diehl was an idealist and a visionary, two qualities that run parallel to great architecture «. He adds «Estudio Lamela now accepts responsibility for its refurbishment with the clear idea of it continuing to be what it was when it was built in 1929: a white line on the landscape.»

The hotel will have two restaurants, several bars and cafes, event areas with a banquet room and meeting rooms, a spa, a gym, and various services and facilities. According to the architecture studio, the refurbishment process will also affect outdoor spaces surrounding the building by remodeling and improving gardens, terraces, swimming pools, sports courts, recreational pavilions, entrances vehicles, and parking lots.

The hotel, located on the bay of Pollença in a protected natural environment, has welcomed guests such as Winston Churchill, Charles Chaplin, the Dalai Lama Audrey Hepburn, or actress Grace Kelly and the Prince Rainier III of Monaco, during their honeymoon.

The emblematic Four Seasons hotel chain will open its second establishment in Spain, after opening the Four Seasons Hotel of Madrid, on Calle Sevilla 3 in September 2020, next to the Gran Vía, often described as the Times Square of Madrid. This hotel has 200 rooms, of which 39 are suites, the smallest measuring 45 square meters, all with high ceilings and windows that look out onto Sevilla Street or Alcalá, and the interiors look out onto a patio covered by a vertical garden.