Barceló Hotel Group is finalizing the purchase of the GPRO Valparaíso Palace & Spa hotel, one of Palma’s most iconic five-star properties, and could sign the agreement with the Chinese group Jiangsu GPRO in early 2027. The deal, reported by Hosteltur, would make the chain the new owner of the property and mark its ninth location in the Balearic Islands.
Located at 23 Francisco Vidal Sureda Street, in an elevated area of Palma overlooking the bay, the hotel needs a renovation to meet the current demands of luxury tourism. The acquisition would mark a new chapter for the property, at a time when hotel operators are seeking assets with potential for renovation and repositioning in the high-end segment.
A five-star hotel awaiting renovation
Opened in 1974, the Valparaíso features 170 rooms and more than 20,000 square meters of gardens. Its facilities include outdoor saltwater pools, an indoor pool, two restaurants, a pool bar, a fitness center, a spa, and event spaces. Given its characteristics, the hotel may require a capital expenditure (CapEx) investment to bring it up to the new owner’s standards, and its incorporation into Royal Hideaway Hotels & Resorts—Barceló’s luxury brand—cannot be ruled out, which would mark the brand’s debut in the Balearic Islands.
The property’s history has been marked by several changes in ownership. Initially run by the Alba family, it later passed into the hands of Grupotel, which sold it in 2014 to Jiangsu GPRO for 48 million euros. In October 2025, it was reported that the Chinese group was seeking an investor and a luxury brand for the hotel, a process that could now culminate with Barceló’s entry.
The Balearic Islands: A Strategic Market for Barceló
The transaction is in line with the chain’s expansion strategy; it has more than 300 hotels worldwide but maintains a limited presence in the Balearic Islands, with eight properties, four of which are in Mallorca. By the end of 2025, Eva Vigil, Chief Tax and Business Development Officer at Barceló Hotel Group, had already expressed the company’s interest in expanding into destinations such as Ibiza and Mallorca, although she acknowledged the challenges posed by the rising cost of hotel investments in the archipelago.
The Barceló Group closed out 2025 with revenue exceeding 7 billion euros and a profit of 313 million. The company plans to allocate 500 million euros to acquisitions, leasing, and asset management, supported by a positive cash position and the absence of financial debt. The potential acquisition of Valparaíso is thus part of a growth strategy focused on transactions that will allow the company to strengthen its presence in strategic destinations.