Hispania buys Hotel Selomar for €16M

Hispania buys Hotel Selomar for €16M

This unit has 245 rooms in total and is a benchmark in this touristic destination. After the acquisition, Hispania has become the largest hotel owner in Spain, with 11,021 rooms in 38 hotels, according to a company's statement.

Hispania will invest between €17 million and €19 million on its complete renovation, since it has been closed over 10 years and had a fire in 2015. The total investment, including the repositioning, amounts to between €33 million and €35 million. 

The Barceló Group will be the hotel operator through a lease contract with a fixed and variable component, under the agreement that it holds with Hispania.

Concha Osácar, consultant of Hispania, said that “with our entry into the market in Benidorm, Hispania is accessing a strategic market in Spain, given its stable occupancy rate during the course of the year and its high degree of exposure to European tourists. This operation shows, once again, Hispania’s capacity to generate value from individual operations at the same time as we increase our presence in the Mediterranean”.




Photo: El Mundo

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