HG Inaugurates its First Urban Hotel & Prepares another Vacation Project

15 January 2019 – Alimarket

The chain HG Hoteles has opened the 4-star HG City Suites Barcelona aparthotel containing 58 accommodation units on Avenida Vía Augusta 89, in the Sarrià-Sant Gervasi district of Barcelona. The establishment is the result of the purchase and complete renovation of a building that used to house the Hotel NH Belagua (3* and 72 rooms), which was active until March 2017. The renovation project has resulted in both an increase in the category of the property from 3* to 4*, as well as a reduction in the number of rooms in order to offer units that are apartment-suites and studios.

The new HG City Suites Barcelona is located just a few minutes walk from Avenida Diagonal and Paseo de Gracia. It is surrounded by services, is next to some of the most prestigious medical centre in Barcelona, and is very close to the Sant Gervasio, Plaza Molina and Fontana metro stops”, explained the company. With his hotel, HG, which has just celebrated its 50th anniversary, is making its debut in the urban hotel segment and is opening a new path of expansion.

Cristian Park will open in 2020

Nevertheless, the company’s next new property will be in the vacation sector and is scheduled for opening at the end of 2020. As Alimarket Hoteles reported, it will consist of the opening of a 4* new build aparthotel, to be operated by the owner, in the south of Tenerife, where HG Hoteles already has several apartment blocks: ‘HG Cristian Sur’ (3* and 90 rooms) and ‘HG Tenerife’ (3* and 189 rooms), in Los Cristianos. Indeed, it will open the future HG Cristian Park in that same town, with 202 accommodation units.

HG’s sun and beach offer is completed with the HG Lomo Blanco apartments (3* and 131 rooms) in Lanzarote, as well as some aparthotels in Menorca, namely: the ‘HG Jardín de Menorca’ (4*-144) and the ‘HG Cala Llonga’ (3*-30). The rest of its portfolio is made up of ski and mountain properties, including: the Huesca hotels ‘HG Alto Aragón’ (4*-134) and ‘HG Cerler’ (3*-101), the Girona-based ‘HG La Molina’ (4*-65), the Navarran ‘HG Isaba’ (3*-49) and the Granada-based ‘HG Maribel’ (4*-30).

Original story: Alimarket (by Paco Mota)

Translation: Carmel Drake

IHP to Build Lanzarote’s Largest Ever Resort

8 January 2018 – IHP Group

International Hospitality Projects (IHP) has recently won an international competition convened by YUDAYA, the parent company of the Hermanos Dominguez enterprise group, to design and construct a Luxury Hotel and Shopping Centre next to Marina Rubicón leisure port, in Playa Blanca, Lanzarote. The hotel will be managed by Barceló H&R under the name Barceló Costa Papagayo.

The key factor in determining the winner of the competition was IHP’s extensive experience in the construction and design of hotels and resorts of different kinds and sizes, as well as its resources and capabilities to carry out the required services successfully.

IHP will provide architecture, engineering and interior design technical services, and will also Project Manage the development, whereby overseeing the hotel and retail project from start to finish, including its legalization and inauguration.

This is a unique project that reflects the architectural tradition of Lanzarote, with an investment of €92M over 3 years to build a construction spanning 100,000 m2 that will accommodate a 720 room-resort and an open-air shopping mall. The hotel will offer 13 different food and beverage spots, a 2,000 m2 convention centre, a 2,000 m2 entertainment theatre, a disco, a SPA and almost 10,000 m2 of swimming pool areas (including the largest pool in Lanzarote). In addition, the Resort will include a Premium area comprising 130 rooms and top range services (…).

Original story: IHP Group 

Edited by: Carmel Drake

Hispania Sells A Hotel To Its Socimi With Barceló For €26.6M

17 November 2017 – Eje Prime

Change of tack in the Socimi universe in Spain. Hispania has sold the Hotel Sandos San Blas, located in Tenerife, to the Socimi Bay Hotels & Leisure for €26.6 million, according to sources at the company. The Socimi is owned by Hispania (80% stake)and the hotel chain Barceló (20%).

This is the first purchase operation that the Socimi has carried out since it started to trade on the Alternative Investment Market (MAB) in July. Bay has acquired all of the shares in the company Eco Resort San Blas, owner of Hotel Sandos San Blas, which has 331 rooms and a five-star rating.

The purchase has been financed using own funds and intra-group loans, and according to Hispania, the acquisition price of Eco Resort has been calculated on the basis of the valuation of Hotel Sandos San Blas (performed by CBRE in June) and the company’s net debt.

Bay’s most recent operations include the purchase of all of the shares in the entity Armadores de Puerto Rico for €6.2 million. That company owns a plot of land in Lanzarote on which the Socimi plans to build a luxury hotel with 225 rooms.

In July, the Socimi also completed the purchase of Fergus Tobago, located in Palmanova, Mallorca, for €20.5 million and Hotel Selomar, located in Benidorm, for €16 million. In terms of future investments, the group held real estate investment commitments amounting to €19.4 million as at 30 June 2017 (…).

The Socimi Bay Hotels & Leisure debuted on the stock market with a portfolio of 22 real estate assets, worth €790.39 million. They include 19 hotels, with 6,900 rooms, worth €756.29 million. Moreover, the Socimi owns two shopping centres, El Castillo I and II, and the Escala marina, all of which are located in the Canary Islands.

According to the latest available results, the Socimi Bay increased its profit by 87% during the first half of the year, to €102 million. Rental income from its hotels and shopping centres rose by 26.5% to €38 million.

Original story: Eje Prime (by C. Pareja)

Translation: Carmel Drake

Hispania Buys 2 Plots In Canary Islands For €13M

31 July 2017 – Idealista

Hispania is pushing ahead with its strategic plan and, to this end, has completed the purchase of two plots of land on which it will build 2 luxury resorts. The plots of land acquired by the Socimi for €13 million are located in the Canary Islands, specifically, in Lanzarote and Fuerteventura.

In addition to hotel resorts, the objective of the investment vehicle, in which the magnate George Soros holds a stake, is to incorporate retail, leisure and sports facilities into the complexes. The project looks set to involve a total investment of around €50 million in the case of Lanzarote alone.

Hispania already owns the Occidental Playa and Barceló Lanzarote hotels, and based on the plans that it has in mind, the five-star complex would contain more than 1,000 rooms, which would make it the largest establishment in Hispania’s portfolio. In Fuerteventura, the Socimi also owns several properties, including two hotels that it purchased in the summer of 2015 for just over €100 million.

Over the last week, Hispania has been in the news for several reasons. Firstly, it is negotiating the sale of 24 office buildings for around €500 million; the insurer Swiss Life is the final candidate in that process.

In addition, the Socimi saw the stock market debut of the investment vehicle that it shares with Grupo Barceló (known as Bay Hotels & Leisure), which started trading on 20 July with a market value of almost €500 million.

Original story: Idealista

Translation: Carmel Drake

Relaxia Resorts Buys Hotel Olivina In Lanzarote

7 December 2016 – Real Estate Press

The Canarian chain Relaxia Resorts, which forms part of the Pérez Moreno Group, acquired its fifth property on 1 December after completing the purchase of Hotel Olivina together with Mazabi. Until now, the property has been managed by Iberostar Hotels & Resorts, under the Olé Hotels brand.

The 4-star hotel is located in Puerto del Carmen in Lanzarote and has 290 rooms.

Hotel Relaxia Olivina hereby joins the Canarian chain’s portfolio, which now boasts 864 rooms in the Canary Islands, of which 686 are located on the island of Lanzarote.

All of the properties owned by the Relaxia chain, which was awarded the “Tourism Distinction” by the Cabildo of Lanzarote in 2011, have a tourist quality Q rating, as well as environmental protection certificates, such as ISO 14001 and Travelife.

Hotel Olivina, in Lanzarote, has changed hands once again after its purchase by Relaxia Resorts, which operates the property under its brand. The tourist chain, which is based in the Canarian capital, also owns the recently constructed Relaxia Aqualava Water Park in Playa Banca, Lanzarote.

With the acquisition of this new hotel, the chain is now one of the largest companies in the tourism sector in the Canary Islands.

Original story: Real Estate Press

Translation: Carmel Drake

Hispania Buys Hotel Oasis Resort In Lanzarote For €28M

22 July 2016 – Expansión

The Socimi Hispania, through its subsidiary Bay Hotels & Leisure, has acquired 100% of the company Inversiones Inmobiliarias Oasis Resort, owner of the Hotel Oasis Resort located in Costa Teguise (Lanzarote), from CaixaBank and Metrópolis for €28 million.

After this operation, the Barceló Group will operate the hotel under a lease contract, which forms part of the framework agreement that governs all of the hotels operated by the group.

The 4-star property has 372 rooms and is located right on the beachfront, opposite Hotel Barceló Lanzarote.

As part of its investment strategy, the group is considering integrating this asset with Hotel Barceló Lanzarote, with the aim of creating a mega resort with almost 800 rooms on the beachfront.

Although the hotel was refurbished recently, an investment of €4 million is planned to bring it up to Barceló’s standards.

Following this acquisition, Hispania now owns 35 hotels, primarily in the vacation segment, and so has more than 10,400 rooms, making it the largest (non-operator) hotel owner in Spain.

According to Hispania’s CEO, Concha Osácar, the Canary Islands is a key market for the company, given its stable occupancy rates throughout the year and its high degree of exposure to European tourists.

On 18 July, Hispania acquired 100% of the shares in the company Later Deruser, owner of the Hotel Paradise Portinatx in Ibiza (Balearic Islands) for €11 million, which will also be operated by Barceló.

Original story: Expansión

Translation: Carmel Drake