Mazabi acquires tourist complex in Tenerife

Mazabi acquires tourist complex in Tenerife

This was the first of 4 operations the management company has undergoing on the hotel segment. The other 3 include new investments in Madrid, Malaga and the Balearic Islands until the end of the year, according to newspaper Expansión.

The same newspaper further added that the evaluation of this asset is 10.7 million euro, which may be the transaction’s value.

Looking into new opportunities and added value assets, Mazabi’s CEO Juan Antonio Gutiérrez believes this is the moment «to continue with our long-term growth strategy by incorporating new hotel assets».

Goal 2020: reaching a €2.000M portfolio

Already in mid-April, Mazabi announced its intention of investing 200 million euro in the hotel segment. At the time, Mazabi’s CEO further explained that «we want to complement our hotel portfolio with strategic and diverse locations», such as the Balearic and Canary Islands, Costa del Sol, Cadiz, Madrid, Barcelona, Seville, Malaga, San Sebastian, Bilbao and Valencia.

Amongst the latest purchases within the hotel segment are luxury hotel Club de Regatas, with 64 rooms, located in Santander, and the future Room007 with 75 rooms located at Tetuán street in Seville. Both should be refurbished in a 2-year long project.

The goal defined by Mazabi for 2020 is to continue its plan to expand its diverse portfolio into strategic locations within the main Spanish cities. It intends to end 2020 with 2.000 million euro under management, above the 1.500 million it managed at the beginning of the year. The growth plan includes not only Spain but also different locations across Europe.

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