Hotel Incosol, a feature of Marbella since 1973, is set to be relaunched after it was bought by HI Partners. The company is a subsidiary of the Banco Sabadell banking group.
The hotel was a pioneer in health tourism before it was forced to close in 2012 after Grupo Jale, which owned and managed the property at the time, went into administration.
After several failed attempts to buy the hotel, largely due to problems stemming from the ongoing bankruptcy proceedings, HI Partners finally acquired the emblematic building last December for around 20 million euros.
Work has now begun on renovating the facilities, although it has been acknowledged that it will be a long process given that most of the rooms and equipment in the hotel have been unused for around five years.
HI Partners have also taken official, legal steps to inform the 170 workers who lost their jobs during the bankruptcy in 2012 that it will be reopened, although this may not be for some time.