Magister family office buy Hotel Costamar in Jávea

Magister family office buy Hotel Costamar in Jávea
Hotel Costamar in the Port of Jávea

The family office Magister, formed by members of the Maestre Azcón family, owners of the Valencian electronic door entry system company Fermax, has acquired the Hotel Costamar in the Port of Javea, by acquiring 100% of the company, according to the Alicante Plaza newspaper.

The asset was a 14-room hotel, managed by the Bou Sart family, which ceased trading a year ago. The arrival of the pandemic accentuated structural problems, so the original company changed owners, although the management remained in the hands of the family.

At the end of 2021, Zem Altea Wellness Retreat became the sole shareholder and even carried out a capital increase. During this last year, and with hardly any activity, the family explored the possibility of seeking greater profitability by transforming the hotel into tourist flats. However, the classification of the plot as a hotel property prevented, for the time being, this change.

Finally, the hotel establishment has been sold to the family office Magister. The acquisition of the company has led to its declaration as a sole proprietorship, as stated in the Bulletin of the Mercantile Register.

The Hotel Costamar is situated in Calle Caleta in the Duanes district, 240 metres from the port of Jávea, a coastal town and municipality in the comarca of Marina Alta, in the province of Alicante, Valencia.

Municipal sources confirm that to date the new owners have not initiated any proceedings in relation to the hotel, they have only requested a change of ownership of the licence, but have not proposed any urban development changes.

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