The new Gloria Palace Costa Teguise involves an investment of 55 million euros, including the land purchase and the hotel construction, the group confirm, according to Spanish Real Estate. It will open in 2021.
The hotel will be built on 70.000 square metros of land with the space to build an establishment with 350 bedrooms. The lot, with one side facing the sea, is next to the four star Sands Beach Resort in the Avenida Islas Canarias.
With this new hotel, Gloria Thalasso & Hotels will expand its presence on Lanzarote where it already has one other hotel, Gloria Ízaro Club Hotel with 106 bedrooms, in Puerto del Carmen. In Gran Canaria there is the Gloria Palace San Agustín, with 450 bedrooms, the Gloria Palace Madores, with 392 bedrooms, and the Gloria Palace Royal, with 198 bedrooms.