Beatriz Hotels saved by London investment fund
A Las Palmas court has approved a rescue plan for Inparsa, the owner of Lanzarote’s Beatriz Hotels, put forward by London investment fund Blantyre Capital. The plan will see Blantyre Capital take a majority stake in Inparsa by turning debt into shares, with the backing of most creditors.
It also includes writing off unsustainable debt, extending mortgage deadlines on the Beatriz Costa in Costa Teguise and the Beatriz Playa in Puerto del Carmen, and injecting fresh funds for refurbishment and upgrades.
Blantyre Capital’s Investment Director, Miguel Cebrián, said the restructuring guarantees the future of the two hotels and the protection of their jobs. “With an active management strategy and a significant investment programme, we aim to create long-term value for all stakeholders. This ruling also reinforces Spain’s reputation as a serious and modern jurisdiction for investment,” he explained.
Inparsa had struggled with debt for more than a decade, facing repeated delays in repayments since 2013 and undergoing financial restructurings in 2012, 2015, and 2020. By November 2023, the company was once again unable to meet its obligations, leading to the latest intervention.
Blantyre Capital brings considerable experience in the hospitality sector, managing around 20 hotels across Spain, Italy, the UK, and Germany, with a workforce of 1,500 people.
The ruling makes Inparsa the fourth company in Spain, following Celsa, Naviera Armas, and Grupo Rator, to receive court approval for a debt restructuring under the 2022 Insolvency Law. With legal backing from the firm Cuatrecasas, the decision is regarded as a way of strengthening confidence in Spain’s business restructuring process for both companies and creditors.
The decision paves the way for much-needed investment in the Beatriz hotels, ensuring they can continue to play a key role in Lanzarote’s tourism industry while safeguarding hundreds of local jobs.
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