• Transaction / Assets
    Hotel ABBA Centrum, Alicante
  • Seller
  • Buyer
    Hotusa
  • € MM
    12-15

Eurostars Purchases Hotel Abba Centrum Alicante

5 December 2018 – Real Estate Press

The Eurostars hotel chain is growing in Alicante. Hotusa, one of the firms belonging to the group, has completed the purchase of the Hotel ABBA Centrum, which it has been negotiating since September.

The amount of the operation has not been revealed, although market sources calculate that it could fall in the range of €12 million to €15 million.

The intention of the chain is to reopen the hotel in January as the Eurostars Centrum, and so the work that it is going to carry out in the building is minimal. In fact, the hotel chain’s website is already accepting reservations for the new hotel in the centre of Alicante from next month. According to sources familiar with the operation, the Hotusa group brand will subject the property to a detailed review to get it ready and will continue to operate it without carrying out any renovation work, at least for the time being.

With this acquisition, Eurostars is growing in Alicante and is whereby adding its third 4-star establishment to its portfolio in the Alicante capital. To date, the chain operates the Eurostars Lucentum, in the former headquarters of the now defunct Banco de Alicante on Avenida de Alfonso X el Sabio, opposite the Central Market, and the Eurostars Mediterranea Plaza, in the same square as the Town Hall. In all cases, the Eurostars hotels are 4-star establishments and offer mid-range prices, in modern buildings and in iconic urban locations.

The chain has more than 100 hotels across fifty destinations, all of which are medium-high end and, in general, housed in unique buildings. The hotel arm of the group is completed with Exe Hotels (60 establishments in Europe and Latin America) and Ikonik Hotels. In addition to its own establishments, the group has around 300 establishments associated with its hotel representation division throughout the world.

In the case of Alicante capital, and in parallel to the negotiation with ABBA Centrum, the chain has also been sounding out the market in the San Juan beach area of Alicante capital, although in that case, the operation has not come to fruition. In that area, the hotel that would be best suited to Hotusa’s plans is Alicante Golf, which is currently managed by the Husa chain, but there has not been any progress on that front for the time being.

Original story: Real Estate Press

Translation: Carmel Drake

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