Spanish private equity real estate firm AX Partners has made a splash in the Balearic Islands’ luxury hospitality market by acquiring the five-star Sir Joan Hotel in Ibiza. The 38-room property, located on the north side of the island’s Marina and just a ten-minute walk from the historic Ibiza Old Town, is set to be rebranded and renovated under the NH Collection Hotels & Resorts umbrella—the very first NH Collection property in the Balearic Islands.

A Strategic Investment

Valued at €28 million (€736,800 per room) – including both the purchase and anticipated revaluation, the acquisition reflects AX Partners’ vision of enhancing the hotel’s facilities to boost its appeal and financial returns. Opened in 2017, Sir Joan Hotel features two restaurants, a bar, and a pool, offering guests a sophisticated escape in one of Spain’s most iconic beach destinations. Once the renovation is complete, the newly named NH Collection Marina Ibiza will aim to deliver an elevated travel experience befitting the brand’s five-star reputation.

Expanding Portfolio in Prime Destinations

AX Partners is no stranger to high-profile hotel investments, with properties already in Sitges, Barcelona, Formentera, and Mallorca. The firm’s strategy includes further expansion along Spain’s most coveted coastlines; it has plans to acquire a new hotel on the Costa Brava in the coming months.

“With the help of a leading brand, we expect to significantly boost returns,” says Aleix Recasens, founding partner of AX Partners. “We’ve chosen NH Collection due to its proven track record in operating premium hotels in iconic destinations, maximizing efficiency, and successfully managing both leisure and dining offerings.”

Looking Ahead

As Ibiza continues to attract discerning travelers from around the globe, AX Partners is positioning the future NH Collection Marina Ibiza to take full advantage of the island’s thriving tourism market. By enhancing the hotel’s amenities and partnering with a renowned international operator, AX Partners demonstrates confidence in the Balearic hospitality sector—and cements its role as a major player in Spain’s competitive real estate investment landscape.