Major players in the hotel sector continue to move pieces alongside international financial capital.
The latest move comes from Meliá Hotels International, which has created a joint venture with Monaco-based fund Tyrus Capital to incorporate two of its most emblematic assets in Spain:
- Torre Melina Gran Meliá Hotel (Barcelona), the historic Juan Carlos I.
- ME Ibiza Hotel, one of the chain's most profitable hotels in Spain.
More than a simple one-off operation, this alliance will be a platform for future joint investments in hotel assets, with special attention to high-value vacation destinations such as the Dominican Republic, where Meliá already operates flagship resorts like Meliá Caribe Beach and Meliá Punta Cana Beach.
What does the new Meliá–Tyrus joint venture consist of?
Meliá has contributed two iconic hotels to this new company that, together, total 545 rooms:
Torre Melina Gran Meliá Hotel (Barcelona)
- 5-star category.
- Located on Diagonal Avenue, Les Corts area, next to Camp Nou.
- Excellent access to the airport and city center.
ME Ibiza Hotel (Balearic Islands)
- Luxury lifestyle hotel by the sea, in S'Argamassa (Santa Eulalia del Río).
- Considered one of the most profitable assets in Meliá's portfolio in Spain.
Although the specific financial terms have not been made public, the operation:
- Strengthens the entry of international capital into prime hotel assets.
- Consolidates a long-standing relationship between Meliá and Tyrus, which had previously acquired the property of the former Juan Carlos I and collaborated with the chain on other projects such as ME London.
For Tyrus, an alternative financing fund that has mobilized around $3.5 billion in its 18-year history, this alliance means increasing its exposure to the hotel business through a professionalized structure and with a global operator like Meliá.
Dominican Republic: the alliance's next frontier
One of the most relevant aspects of this joint venture is its forward-looking vision.
According to industry sources, the Dominican Republic ranks among the new priority areas for future joint investments by Meliá and Tyrus.
This is no coincidence:
- Meliá already has a consolidated presence in Punta Cana with resorts such as:
- Meliá Caribe Beach Resort, a family all-inclusive facing Bávaro Beach.
- Meliá Punta Cana Beach, an adults-only resort with a wellness focus and lifestyle experiences.
- The DR is experiencing a historic moment in tourist arrivals, with annual records exceeding 11 million visitors and strong government commitment to the sector.
In this context, the alliance with Tyrus can translate into:
- Repositioning of existing assets in the Caribbean region.
- New acquisitions or developments in premium destinations within the DR.
- Greater capacity to compete in the luxury and lifestyle all-inclusive segment, where Meliá is already innovating with brands like ZEL Punta Cana.
A strategy Meliá has already tested with other financial partners
The operation with Tyrus is not an isolated event, but part of a consistent Meliá strategy: using joint ventures to:
- Share risk.
- Bring out the real estate value of its assets.
- Maintain control of hotel management, increasingly separating property ownership from the operational business.
The alliance with Banca March
Since 2023, Meliá and Banca March have structured various joint companies oriented toward tourism investment:
- First major operation: the March family took 80% of Starwood Capital's stake in several vacation hotels (one hotel in Ibiza and two in Fuerteventura), with plans to reposition the assets.
- In 2025, they expanded the alliance with a new JV to acquire the Sol Tenerife and Innside Palma Bosque hotels, in an operation valued at around 140 million euros, plus an additional 50 million for renovations.
Other vehicles and partners
According to Meliá's annual report, the chain had at least nine such vehicles as of the end of 2024, including:
- Altavista Hotelera
- Fourth Project 2012
- Yagoda Inversiones
- Sierra Parima, among others
In addition, the company has forged agreements with other financial entities such as:
- Bankinter Investment (Victoria Hotels, Paradisus Salinas Lanzarote).
- Banco Santander.
- Grupo Popular Dominicano, with whom it has structured operations on hotels in Punta Cana.
Why are these joint ventures so important for hotel chains?
Industry experts agree that this type of alliance allows groups like Meliá to:
Share financial risk
Investment in luxury hotels, repositionings, and renovations is very capital-intensive. By partnering with funds or banks, the chain reduces exposure and gains muscle for new projects.
Unlock real estate asset value
The hotel is no longer just an operating business, but a financial asset that can be monetized partially or fully, while maintaining operations.
Focus on what they do best: managing hotels
Meliá is moving toward an "asset-light" model, where:
- Property ownership is shared or transferred.
- The chain retains management, brand, and know-how.
Accelerate international expansion
With partners like Tyrus, Banca March, or regional banks, the company:
- Enters key markets faster.
- Can bet on emerging destinations or reposition assets in premium locations.
What this could mean for the Dominican Republic
If the Meliá–Tyrus joint venture decides to materialize investments in the Dominican Republic, the impact could be seen in:
- New luxury projects in Punta Cana, Cap Cana, Miches, or Samaná.
- Renovations and repositionings of existing resorts toward more experiential concepts (wellness, lifestyle, adults-only, etc.).
- Greater attraction of high-spending tourism, seeking global brands, high standards, and differentiated products.
For the destination, this translates into:
- More qualified employment.
- Increase in average spending per tourist.
- Greater visibility in European and high-purchasing-power source markets.
Conclusion: Meliá plays the long game, and the Caribbean is on the board
The new joint venture between Meliá and Tyrus Capital confirms a clear trend:
Major hotel groups no longer grow alone, but in alliance with funds and financial institutions that provide capital and share risk.
With two Spanish gems like Torre Melina and ME Ibiza within the agreement, and with the Dominican Republic marked as the next natural frontier, everything indicates that we will see:
- More corporate operations.
- More asset conversions.
- And an even stronger Meliá presence in the Caribbean, supported by partners who want to participate in the growth of sun and beach tourism… but with a focus on the premium segment.
For the Dominican tourism sector, the equation is clear: if Meliá and its international partners look toward the DR, it is because the destination remains one of the most attractive places to invest in high-value hospitality throughout the Atlantic.
