Marbella's iconic Incosol hotel renovation postponed despite approval

Since its closure on 1 April 2012, the iconic Incosol hotel in Marbella has suffered several renovation delays.

The revival of this icon of luxury, health and wellness tourism was announced in December 2022, when Ilanga Capital, an investment company, which has links to Pelayo Cortina Koplowitz, acquired the property. The transaction cost the investor 150 million euros and the initial target of reopening the hotel was the first half of 2025.

The promoters of the project then pushed back the opening date to late 2025 or early 2026. Construction, however, has yet to begin, despite the fact that six months have now passed since Marbella town hall approved the building permit. This was a landmark decision for the municipality due to the cost of the hotel renovation project: 87.41 million euros.

At present, the only sign of activity on the plot in the Río Real residential development where the iconic hotel stands is the security guard keeping watch. The company has not explained the reasons for this delay, although a spokesperson has told SUR that the project is not only going ahead but also proceeding exactly as originally proposed.

This source has stated that work on the hotel's refurbishment will begin in "the second half of the year". The project will retain the framework of the original building, developed by the Marquis of Villaverde, Cristóbal Martínez-Bordiú (the cardiologist, surgeon and son-in-law of Francisco Franco), which was inaugurated on 6 April 1973 by Franco himself.

Meanwhile, Ilanga Capital has announced an investment of 50 million euros in its second luxury campsite in Portugal. The company's advisory committee includes renowned figures in the hotel and business sectors such as Antonio Catalán (President of AC Hotels), Federico J. González (Deputy President and CEO of Radisson Hotels and Louvre Hotels) and Sol Daurellas (President of Coca-Cola Europacific Partners).

According to the project, which the town hall approved on 14 October 2025, the renovation will last between 18 and 24 months, so in the best case the hotel that hosted guests such as Salvador Dalí, Camilo José Cela, Michael Jackson, Audrey Hepburn, Elizabeth Taylor, Grace Kelly, Diana, Princess of Wales and King Fahd will not be able to open before 2028 - three years after the first announced deadline.

The construction phase will reportedly provide 2,000 jobs, while the hotel itself, once operational, will provide 500 direct and 750 indirect jobs.

The facility will feature 21,300 square metres of wellness spaces, 6,100 square metres of five-star accommodation units and an additional 34,000 square metres of open areas, green spaces and a swimming pool. It will have 168 rooms, 140 of which will be healthcare-related and 28 hotel rooms. It will feature beauty, wellness, health and longevity areas.