By Annie Dabb • 18 June 2022 • 17:02
Alcudia, Mallorca: Lars Larsen - Flickr
The project plans to reopen the hotel in 2023 after a €10 million refurbishment. The hotel will be sustainable, have 4 stars, 208 rooms (with around €50,000 spent on each room) and 2 exterior floors.
The new hotel will be managed by THB Hotels, alongside its 18 other establishments in Baleares, Canarias and Costa del Sol.
The Hotel Fund involved with the project already bought Hotel San Fermin de Benalmádena in November 2021. It has now formalised the new acquisition into the project with an investment of more than €160 million in holiday hotels throughout Spain, AndBank informed europapress.
Atalaya is supporting Andbank España’s strategy of creating opportunities for clients to invest in “real economic projects that accommodate a wide range of financial backgrounds and obtain profitability in a different way to the markets”.
The entity ended 2021 with more than €1.100 million of clients invested in these types of products. Amongst these clients’ investments the project offers financial opportunities in landed property businesses (hotels, infrastructures, real estate, renewable energy) and other market opportunities (venture capital funds, private equity and market operations which the entity deems have value).
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