By Chris King •
Updated: 10 Jun 2022 • 16:29
DON CARLOS HOTEL in Marbella has been bought as part of a package by a Canadian investment firm
The prestigious 5-star Hotel Don Carlos Resort & Spa in Marbella has been bought by the Canadian investment firm Brookfield Asset Management, which has acquired four hotels from the Selenta Group for a total of €440 million euros, in a deal that includes Marbella’s famous 299-room hotel, considered one of the most emblematic in the city.
This was a transaction carried out by the consulting firm Colliers, which has announced that this deal is “the largest hotel investment operation formalised during the course of the year in the Spanish market”.
As part of the acquisition of the properties from the Selenta Group, the purchase includes four hotels all located in prime positions, with a total of 2,237 rooms: the Hotel Sofia Barcelona, a 5-star Grand Luxury hotel with 465 rooms, and operated under the Unbound Collection by Hyatt brand; the 4-star Hotel Expo in Barcelona, which has 435 rooms; and the 5-star Mare Nostrum Resort holiday complex in Tenerife, with 1,037 rooms.
A spokesman for Colliers said, “In total there are 2,237 rooms in prime locations and will continue to be operated by Selenta Group”, with Laura Hernando, the Managing Director of Hotels at Colliers commenting, “Brookfield’s move allows it to acquire a portfolio of quality assets in the main Spanish tourist destinations, as well as a consolidated management platform from which to develop its growth plan in Spain”.
The month of July has been “historical” in hotel investment, affirmed the consultant, “Investors continue their frantic career in the Spanish market, and at the end of July the hotel investment accumulated in the year stands at close to €2,000 million. In the month of July alone, assets of more than €880 million have been transacted, which represents approximately 45 per cent of the total materialized in 2021”.
According to Colliers, prime assets in top-level tourist destinations – both urban and holiday – continue to be the protagonists, “As we anticipated in our hotel investment report for the first half of 2021, these have shown to enjoy high liquidity and allow divestments with minimal discounts compared to pre-Covid valuations”, as reported by laopiniondemalaga.es.
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Originally from Wales, Chris spent years on the Costa del Sol before moving to the Algarve where he is a web reporter for The Euro Weekly News covering international and Spanish national news.
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