This is a unit located in Spanish city Santander and has 64 rooms. According to the Spanish asset manager, the hotel should be refurbished in a 2-year long project.
The company has already invested a total of 420 million euro in this segment and intends to invest more 200 million euro this year. It currently has 11 hotels in its portfolio and 3 on which it is investing – which represents 25% of all its assets – spread across different prime locations in Spain.
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.