Spanish concern buys “Tropical Islands” near Berlin for €226mn
The Spanish-based Parques Reunidos Group is acquiring the Tropical Islands resort, located 60 km south of Berlin, for €226mn. The seller is Tisarl, part of the Malaysian conglomerate Tanjong, which is handing 100% of its shares to Parques Reunidos with the sale. The transaction is expected to be completed in February 2019. Tropical Islands was opened at the end of 2009 in a former Zeppelin hangar; today the 600-hectare site also includes hotels and several hundred vacation rentals. The resort operated for many years in the red; however, according to Parques Reunidos, it now generates revenues of around €71mn and an operating profit of around €20mn p.a. It is the Spanish concern’s third theme park in Germany after having acquired the “Movie Park Germany” theme park in Bottrop in 2010 and the Leipzig amusement park Belantis at the beginning of this year.
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