Behind ActivumSG’s €175m purchase of the Fairmont La Hacienda
In one of the most notable hotel transactions in Spain this year, ActivumSG earlier this month acquired the five-star Fairmont La Hacienda in Spain’s Costa del Sol for €175 million.
Marking a further step in ActivumSG’s luxury-focused strategy targeting resort markets in Southern Europe, which is targeted at resort markets in Southern Europe particularly Spain, the acquisition is an exciting one for the real estate investment manager not only because of its scale and luxury offerings but also due to its strategic fit within ActivumSG’s portfolio, which includes the SLS Barcelona and Nobu Hotel Barcelona.
“It’s such a unique beachfront asset – it has more than 300 rooms and suites, two golf courses overlooking the coast, four swimming pools, seven restaurants and bars, a spa, and more than 700 metres of oceanfront amongst other facilities, which is unparalleled for Spain,” says Brian Betel, head of direct transactions at ActivumSG.
Looking to ActivumSG’s wider strategy, the investment manager plans to expand in Southern Europe, with a particular focus on Spain and other Mediterranean markets, with Betel revealing active exploration of repositioning opportunities across Spain’s luxury hotel sector, including the islands of Majorca and Ibiza, and even looking at assets in Sardinia, Italy.
By Ifeoluwa Taiwo