- The hotel, located in Benalmádena, is a reference for holiday tourism in Málaga town and has 316 double rooms and category 3 *.
- Navis Capital Desarrollo formalises the first purchase transaction of the Atalaya Project with which it will structure investments in the national hotel market for more than € 160 million.
- The Aguirre family, until now the owner of San Fermín Hotel, has been advised by Colliers and TeamOn.
Colliers (NASDAQ: CIGI; TSX: CIGI), a global leader in advisory services and investment management in real estate, together with TeamOn, has advised on the sale of the San Fermín hotel, a reference for holiday tourism in the Malaga town of Benalmádena. The hotel has been acquired by the venture capital management company, Navis Capital Desarrollo and represents the first investment of this vehicle in the Spanish market.
The San Fermín hotel, with a 3-star category and 316 double rooms, was built by the Aguirre family, owner of the asset since 1976 and whose last renovation was completed in the 2016-2017 period. It has 10,655 sq m. of constructed area distributed in 2 buildings and 4,000 sq m. of green areas and facilities that include 2 swimming pools, tennis court, bar, restaurant and 2 car parks with a total of 62 spaces. It is located on Benalmádena coast, 350 meters from Santa Ana beach and 800 meters from the Puerto Marina marina, right at the junction of the municipalities of Benalmádena and Torremolinos, two national and international benchmarks for sun tourism and beach.
This transaction is part of the investment strategy in hotel assets of the venture capital manager Navis Capital Desarrollo, which, under the name “Atalaya Project”, will structure investments for more than € 160 million in vacation-type hotel assets, with the category of 3 and 4 stars, more than 150 rooms and locations in the most important Spanish tourist destinations. This project is being marketed throughout Spain by Andbank, one of the main private banks in the country.
In accordance with its business model, and once the planned hotel remodeling has been undertaken, Navis will delegate the management of the accommodation to the operator THB Hotels, its experienced partner in the management of the hotel business. THB was founded in the Balearic Islands in 1987 and currently manages 16 holiday hotels of 3 and 4 star located in Mallorca (10), Ibiza (3) and Lanzarote (3).
“We are very satisfied with the acquisition of the San Fermín hotel because it is a project where we will be able to create value for our investors in two ways: by repositioning the asset through a significant investment in Capex, and on the other, by improving the operational management of the hotel thanks to THB. " - says Beatriz Menéndez-Valdés, Director of Investments at Navis.
“With this operation, the existing investment appetite for the hotel sector is further accentuated, encouraged by the improvement in tourism prospects, and in which the Costa del Sol continues to consolidate as a preferred investment destination in the vacation sector. The first signs of economic recovery, together with the foreseeable opening of bank financing sources in the short / medium term, are generating new opportunities for investors who until now had adopted a more conservative position towards the sector. " comments Gonzalo Gutierrez, Director of the Hotels division in Colliers.