Chile's Phoenix Group buys shuttered Spanish golf hotel

In Murcia, Spain, the five-star Hotel Intercontinental La Torre on the Polaris World La Torre Golf Resort has reportedly been bought by the Chilean Phoenix Group from Spain’s so-called “bad bank” Sareb.

Phoenix already has a presence in Spain as the owner of the La Quinta resort in Marbella, and has interests in the real estate, tourism, renewable energy and financial investment sectors. 

Virtual Event

HOTEL OPTIMIZATION PART 2 | SEPTEMBER 10 & 24, 2020

Survival in these times is highly dependent on a hotel's ability to quickly adapt and pivot their business to meet the current needs of travelers and the surrounding community. Join us for Optimization Part 2 – a FREE virtual event – as we bring together top players in the industry to discuss alternative uses when occupancy is down, ways to boost F&B revenue, how to help your staff adjust to new challenges and more, in a series of panels focused on how you can regain profitability during this crisis.


The hotel itself has a fascinating history, as Murcia Today (citing Spanish media “La Opinión”) notes: It was once a main asset of Polaris World, but following the financial collapse of the company it was transferred to IRM, the company created in 2009 by Bancaja, Banco de Valencia, Banco Popular and CAM to manage the assets they received from Polaris in payment of accumulated debt. The hotel was later transferred to Sareb, and closed in 2013.

Originally, the bank was looking to sell off its Polaris World assets en bloc, but last October the bank’s president, Jaime Echegoyen, suggested that the portfolio could be divided. 

Suggested Articles

Many hotel owners will find themselves in the uncomfortable and unfamiliar position of deciding on a course of action for negotiating with their lende

For the week of Sept. 6-12, occupancy reached 48.5 percent, down 1.6 percent from the previous week.

Tisch joined Loews Hotels & Co in June 2017 from Loews Corp., where he was a VP.