The Hotusa hotel chain has closed the purchase of the Palacio de los Vargas, in Granada, to convert it into a hotel, according to Brainsre.news.
It is an old Renaissance-style palace, built in the 16th century, located on Calle Horno de la Marina 9, next to Plaza de la Trinidad. With 1,794 sqm, the property is divided into a basement, ground floor, mezzanine and upper floor, the latter presumably housing the rooms of the future hotel complex.
The Palacio de los Vargas has a long history in Granada. For more than 10 years it has been abandoned and used as a squat. In 2007, there was a project for its repositioning into a four-star hotel. The outbreak of the real estate crisis and a paralysis of the plan by the Consultative Council of Andalusia squandered all the plans. In 2009, when the operation was unblocked by the administration; there were no funds to continue the hotel.
The property is considered a Site of Cultural Interest. The amount Hotusa has paid for the asset is unknown and they decline to comment on the operation.