Starwood Capital buys the Hotel Las Dalias in Tenerife from Iberostar

Starwood Capital buys the Hotel Las Dalias in Tenerife from Iberostar
Las Dalias Hotel

The Iberostar group has reached an agreement with Starwood Capital group for the sale of Iberostar Las Dalias, a four-star hotel with 420 rooms located in Costa Adeje, Tenerife. Following the purchase of the hotel by Starwood, the Iberostar group will continue to manage the property under the Iberostar brand.

Starwood Capital has acquired the hotel through Starwood Real Estate Income Trust, Inc., an unlisted Reit managed by the company. The acquisition represents the second European hotel rental investment for Sreit and the first hotel rental investment in Spain, and it is valued at 100 million euros.

On the other hand, BBVA and Bird & Bird have advised Iberostar on the sale. DLA Piper has advised Sreit on the acquisition.

The comprehensive reform of Iberostar Las Dalias has been carried out by applying circularity policies. After carrying out an energy modeling study, its environmental commitment materializes with the incorporation of facilities that guarantee the efficient use of natural resources, sources of osmosis, more efficient hybrid solar panels that allow generating energy for electrical use. In addition to monitoring meters for the optimal behavior of the facilities.

In addition, all the metal carpentry has been replaced with improved thermal performance and sensors to quantify the energy savings in the rooms, which incorporate thermal envelopes for better insulation. During the reform project, the treatment of operational waste has also been optimized, obtaining a 24% reduction in the hotel's carbon footprint in line with the Iberostar group's commitment and its 2030 Agenda to be carbon neutral by 2030 .

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