Mazabi, specialised in real estate asset management, has acquired the Aragon Hills & Spa hotel. An asset of 10,339 square metres built with 157 rooms in the Fromigal-Panticosa ski resort.
The hotel has a 4-star rating and is located in a destination that receives more than 83,000 visits a year and has been very successful in promoting summer tourism in recent years. This has made it possible to attract tourists all year round and to de-seasonalise demand.
The asset is located in the heart of Formigal and is close to the shopping and leisure area. It also has several catering facilities, including a terrace, a meeting room, a car park with capacity for 50 vehicles and a spa with an indoor swimming pool.
The future positioning of the asset is focused on the search for an operator. It is also part of the long-term regeneration and unification plan of the four ski resorts in the Tena and Aragon valleys, Canfranc, Candanchú, Astún and Formigal-Panticosa.
Mazabi bets for the investment in tourist assets
Juan Antonio Gutiérrez Hernando, CEO of Mazabi, has commented that this operation fits in the strategic plan of the company to continue investing in tourist assets, both of urban and holiday typology (in sea and mountain). With this latest acquisition, Mazabi now has 19 hotel assets. In the 2023 strategic plan, several hotel assets that have already fulfilled their business plan will also be sold.
Javier Oroz, director of hotels at Savills, the company that has advised on the acquisition of this hotel asset, commented that "there is a great opportunity for profitability and repositioning in mountain destinations, thanks to the good performance of leisure demand and the shortage of quality supply. Aragón Hills is the hotel benchmark in Formigal, a destination with a very positive operational growth trend".
