Spring Hotels acquires Mare Nostrum Resorts in the Golden Mile of Playa Las Americas
Spring Hotels Group has completed the purchase of the Mare Nostrum Resort located on the ‘Golden Mile’ in Playa Las Americas, in the south of Tenerife, from Selenta Group (owned by Brookfield), in a deal valued at €430 million.
This acquisition is the largest hotel asset transaction in history in Spain.
The Mare Nostrum Resort comprises of three flagship hotels: the five-star Mediterranean Palace, the five-star Sir Anthony, and the four-star Cleopatra Palace. With this strategic move, Spring Hotels adds over 1,000 rooms to its portfolio, expanding its total capacity to six hotels and more than 2,300 beds owned and managed in one of the Canary Islands’ and Spain’s top tourist areas.
In addition to its hotel offerings, the Mare Nostrum Resort brings several premium tourism products under Spring Hotels’ umbrella, including a state-of-the-art MICE centre (meetings, incentives, conferences and exhibitions) capable of hosting more than 1,600 people, a Hard Rock Cafe, a beach club, an auditorium, and other complementary dining venues. The resort has recently undergone a €56 million renovation carried out by Selenta Group.