Canary Islands hotel investment reaches €2 billion

Hispania Activos Inmobiliarios has completed the purchase (through its subsidiary Hispania Real SOCIMI) of the Sandos San Blas Nature Resort & Golf, owned by Banco Sabadell and operated by the Sandos Hotels & Resorts group under a lease. The operation was reportedly advised by the Group of Hotels & Hospitality division JLL.

For Hispania Activos, this purchase completes its hotel portfolio in the Canary Islands and boosts its presence on Tenerife, where it already owns the Meliá Jardines del Teide and Barcelo Varadero hotels.

Luis Arsuaga, director of the Hotels & Hospitality Group for JLL in Spain and Portugal, said that the deal indicates ongoing investor opportunity and demand for hotels in the Canary Islands. Before the year is out, hotel investment in the islands will have reached €2 billion, surpassing the previous record of 2006 when investment hit €1.7 billion.  

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