An undisclosed Canary Islands-based family office has acquired the four-star, 409-room Labranda Suites Costa Adeje on Tenerife, Spain, from Spanish REIT Atom Hoteles SOCIMI, for €110 million (€268,950 per room). Tenerife is the largest of Spain’s Canary Islands, and the property is situated on the south side of the island, 500 metres from the sea and 20 kms from Tenerife’s main airport, Reina Sofia. The property features nine F&B outlets, three swimming pools, a wellness centre and a multi-sports court. Following Atom Hotels' acquisition of the property in 2019, it was renovated and repositioned as a four-star superior hotel. The new owners also own and operate other hotels in the same area.

 

A Spanish investment group has acquired the four-star, 177-room Hotel Vincci Bit in Barcelona, Spain, from Spanish real estate developer Grupo Rosales Inmobiliario, for approximately €60 million (€339,000 per room). The property is situated in the Diagonal Mar area within the 22@ district, just one km from the beach. The hotel opened in 2012 and includes a rooftop pool, restaurant and bar. Vincci Hotels currently operates the hotel under a lease agreement.

 

A group of private investors has acquired the five-star, 117-room Ocean Drive Talamanca on Ibiza, Spain, from Ibiza-based owner operator OD Group, owned by Marc Rahola Matutes who developed and opened the hotel in 2016. The property is situated on the coast three kms north-east of Ibiza Town and some 13 kms from Ibiza Airport. The hotel includes swimming pools, a restaurant and two bars. OD Hotels will continue to manage the hotel under the Ocean Drive brand for the next 25 years. In April 2024, OD Group also sold the five-star, 98-room Ocean Drive Barcelona for €50 million (€510,200 per room).

 

Travelodge acquires Barcelona Cornellà Fira hotel from Louvre

British owner operator Travelodge has completed the acquisition of a three-star, 83-room hotel in Spain, located at Barcelona Fira, the city’s trade fair centre, from French owner operator Louvre Hotels Group. The property, acquired on a long-leasehold basis and now known as Travelodge Barcelona Cornellà Fira, is situated in the south of Barcelona, ten-minute’s drive from Barcelona airport. It is the final hotel of a six-hotel portfolio which Travelodge agreed to acquire from Louvre in April 2024, with the other five properties having been acquired on a freehold basis. Travelodge intends to further expand its portfolio in Spain, including three new-build hotels in San Sebastian, Cadiz and Alicante, that are due to commence construction this year.

 

Atlantic Ocean Hotel Investors' Summit (AOHIS) 20th - 21st January

HVS is pleased to be sponsoring the third Atlantic Ocean Hotel Investors' Summit (AOHIS) being held in Madrid on January 20th and 21st. AOHIS is an owner-driven conference, focused on hotel real estate investors, developers and franchisees. From HVS, Charles Human and Sophie Perrett will be attending the event, with Charles moderating a plenary session entitled “Why are so many investors focused on buying platforms rather than single assets?”. More information on the event, including registration details, can be found at www.aohis.co.