Servatur signs agreements to invest in and operate Hotel Isora
Servatur SA has today entered into agreements to invest EUR 2.7 million to acquire a 49% ownership interest in Hotel Isora and to rent and operate the hotel under a 13-year rent agreement.
Servatur SA has today entered into agreements to invest EUR 2.7 million to acquire a 49% ownership interest in Hotel Isora and to rent and operate the hotel under a 13-year rent agreement.
Hotel Isora is a 4-star hotel in Playa La Arena, Tenerife, with 311 rooms. The hotel will be acquired through a jointly owned company to be owned 49% by Servatur SA and 51% by Fredensborg AS, Kai Canari Holding 3 AS and Simto AS. Closing is expected towards end of May 2026, subject to customary closing conditions. The jointly owned company has secured bank financing for the acquisition, subject to customary closing conditions. The Servatur group will account for its 49% interest using the equity method and will not consolidate the jointly owned company.
This is a related-party transaction, as Fredensborg AS, Kai Canari Holding 3 AS and Simto AS, which combined owns 100% of Servatur Holding AS, will invest together with Servatur in the jointly owned company. Servatur considers the transaction to be on market terms, and it has been approved in line with Servatur’s internal governance procedures. The independent board members of Servatur SA have approved the transaction. Kai Robert Mikaelsen (Chairman), Ivar Tollefsen (Director), and Sondre Hove (Director), did not take part in the approval due to conflicts of interest.
For further information, please contact IR@servaturholding.com
About Servatur
Servatur is a fully integrated hotel company engaged in operation of owned and rented hotels in the Canary Islands, Spain. The company was established in 1976 and has five decades of local heritage and experience. Servatur Holding AS is the Norwegian holding company in the Group.