Following a process similar to the Mencey hotel, the president of the Cabildo, Carlos Alonso, announced in a press conference the extraordinary adoption of the tender process of the Taoro hotel, together with a plot of land granted by the Port Junta.
According to Spanish Real Estate, the lease will be for 40 years at an annual rate of 941,000 euros, and the the lease giver would need a minimum investment of 15.3 million euros. Cabildo is offering 80% compensation of the initial investment, and up to a maximum of 18.8 million euros, by absolving the payment of the annual fee until these costs are covered, a period of some 20 years.
The hotel is to have a minimum of 504 beds and will be classified as five stars, in spite of this usage not being obligatory as part of this tender.
Investment in hotels ended the year 2016 with a total investment volume of 2,155 million euros, making it the second best year of the past decade, only surpassed by the historic figure of 2015, ...
HI Partners, a hotel chain belonging to Banco Sabadell, has agreed with the Polanco family the purchase of 49.9% of the Ritz-Carlton Abama, in Tenerife.
Sabadell Bank put its Hotel subsidiary HI Partners for sale, two months after announcing its intentions to debut the Hotel Fund in the stock market.
Excem just launched its second Socimi, Tourism Investment Company (Situr), dedicated to hostels and tourist apartments market. It had already acquired its first asset in Madrid for €22 mill...
Aina Hospitality purchases 50% of Gran Hotel Velázquez from Didra Group.