Asset manager Schroders Capital has acquired The Standard Hotel in Ibiza as it further expands its hospitality strategy.
Financial details were not disclosed.
The recently-built 67-room hotel is located in the heart of Ibiza old town and features a street-level restaurant dubbed Jara on the ground floor, as well as a rooftop with a pool overlooking the marina and the old town.
Benjamin Chiche, investment director, real estate hotels, Schroders Capital, said: 'We were attracted by the combination of a newly-built property in an excellent location with the power of The Standard brand behind it.
'The team at The Standard is perfectly positioned to capture the mood of the Ibiza market and the market excitement about their most recent opening in Ibiza is well deserved.'
The deal marks Schroders Capital’s fourth acquisition over the past 12 months in the European luxury-lifestyle hotel sector.
Added Chiche: 'Schroders Capital currently manages 55 hotels across Europe with a significant exposure to the luxury lifestyle end of the market.
'This depth of experience in operating real estate makes Schroders Capital a preferred buyer for sellers of such assets and in this instance allowed the transaction to complete within four weeks.'