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hospitality Market News: Spanish Real Estate Intelligence

Atom Hoteles Acquires Hotel in Cádiz for €15 Million
4 December 2019 – The socimi Atom Hoteles has finalised the acquisition of a hotel in Cádiz for 15 million euros. The four-star hotel is located in the city’s historic centre. The socimi funded the operation using equity but is also studying possible debt financing. Atom Hoteles will also sign a ten-to-twenty year management contract with Hoteles Playa group. Original Story: Eje Prime Adaptation/Translation: Richard D. K. Turner
 
Trinitario Casanova Loses Court Battle Over the Hotel Plaza España
2 December 2019 – Trinitario Casanova, an executive based in Orihuela who is the head of the Murcian Baraka Group, lost another round in his lawsuits against the RIU hotel chain. Casanova has been battling in court since an operation in which he intervened to buy the Edifício España in Madrid from Chinese investor Wanda and, simultaneously, sell it to the Mallorcan firm to turn it into a hotel. The courts had already ruled against the executive in May when RIU was allowed to open the hotel. Now the latest ruling stated that the Baraka Group did not have a repurchase option on the ground-floor commercial premises. Original Story: Alicante Plaza - David Martínez Adaptation/Translation: Richard D. K. Turner
 
Nordic Leisure Travel Group Acquires Airtours’ Network of Hotels
25 November 2019 – The Ving Group, which recently changed its name to the Nordic Leisure Travel Group, announced that it had acquired the hospitality firm Airtours Resort Ownership Spain (AROE), including RMHI and Movables. The firm operates a total of 2,194 rooms in hotels in Gran Canaria, Fuerteventura, Tenerife, Mallorca and Menorca. AROE, which sold for an undisclosed amount, owns twelve hotels: the Ocean Beach Club Gran Canaria and Sunprime Atlantic View, in Gran Canaria; Sunwing Fañabé Beach, Tenerife; Sense Bougainvillea, Fuerteventura; Sunprime Waterfront, Sunwing Alcudia Beach, Cala Viñas, Cala'n Bosch, Los Delfines, Panoramic Alcudia, Cala Blanca Sunhotel and Cook's Club Palma Beach, in Mallorca and Menorca. The Nordic Leisure Travel Group stated that the twelve hotels are some of the most popular with its customer base via the operators Ving (Sweden), Spies (Denmark) and Tjäreborg (Finland). Original Story: Tourinews Adaptation/Translation: Richard D. K. Turner