• Transaction / Assets
    Hotel Golf Plaza (Tenerife)
  • Seller
  • Buyer
    MGM Muthu Hotels
  • € MM

MGM Muthu Hotels Buys Second Hotel in Tenerife

22 December 2015 – Hosteltur

MGM Muthu Hotels has purchased the 4-star Hotel Golf Plaza, located in the south of Tenerife, containing 174 rooms. It represents the firm’s second establishment on the island together with the 3-star Muthu Royal Park Albatros. The Singapore-based group declined to reveal the consideration of the operation.

With the Grand Muthu Golf Plaza Hotel, the chain is strengthening its offer oriented at both family and couples vacations, with rooms adapted to the tastes and needs of both types of consumer at the two establishments.

Currently, MGM Muthu Hotels owns seventeen 3- to 5-star hotels in Portugal, Spain, the United Kingdom, India and Singapore. In Spain, besides the two properties in Tenerife, the company owns the Grangefield Oasis Club on the Costa del Sol, and the Infiniti Beach Resort in Almería.

Soon, the firm is going to open a 5-star hotel containing 500 rooms in Cayo Coco (Cuba), the Gran Muthu Cayo Coco, as Hosteltur revealed, which will be the first hotel owned by an Asian chain in Cuba.

The Group is now also negotiating the acquisition of hotels in Lourdes (France), Punta Cana and Riviera Maya to incorporate them in 2016 and whereby continue with its expansion.

Original story: Hosteltur

Translation: Carmel Drake