An emblematic, five-star, luxury hotel on the Costa del Sol has a new owner after the largest hotel investment deal in Spain, so far, this year.
The Canadian fund Brookfield Asset Management is the new owner of the 299-room Don Carlos Resort and Spa in Marbella after it acquired the Selenta Group and its four hotels in a deal worth 440 million euros.
Brookfield manages assets valued at $600 billion in more than 30 countries around the world.
As well as the Don Carlos the group has acquired the Sofía Barcelona hotel, a five-star grand luxury hotel with 465 rooms, operated under the Unbound Collection by Hyatt brand; the Expo hotel in Barcelona, with four stars and 435 rooms; and the holiday complex Mare Nostrum Resort, in Tenerife, with a five-star rating and 1,037 rooms.
"In total there are 2,237 rooms in prime locations and will continue to be operated by Selenta Group," Colliers, an industry consulting company, points out.
Laura Hernando, Managing Director of Hotels at Colliers, says that “Brookfield's move allows it to acquire a portfolio of quality assets in the main Spanish tourist destinations, as well as a consolidated management platform from which to develop its growth plan in Spain. The deal is the largest this year.”
The Don Carlos has a long and colourful history that began when the North American Conrad Hilton opened the emblematic Don Carlos, a five-star luxury hotel, whose characteristic high-rise tower broke the aesthetic of the coastal landscape of a Mediterranean town back in 1969.
The benchmark of luxury on the Costa del Sol has hosted many famous names in their largest suite with adjoining rooms on the 14th floor.