The owners of the SO / Sotogrande hotel are making progress on the sale. Orion and Cerberus have commissioned the consulting firm JLL to organize a competitive sales process starting at 180 million euros, according to El Confidencial.
This will not be an off-market sale like the initial option, but instead an organized sales process open to several candidates.
The luxury resort has 152 rooms and 36 suites. The complex houses six restaurants, a spa, a gym, event facilities, two outdoor pools and one indoor pool. It has a long-term contract signed with Accor.
Orion and Cerberus bought a part of the owning company in 2014 and three years later to acquire the remaining part. They invested 40 million euros in the rehabilitation of the entire asset.