Hispania acquires Hotel Oasis Resort in Lanzarote for EUR26m

Hispania, through its subsidiary Bay Hotels & Leisure, has acquired Inversiones Inmobiliarias Oasis Resort for EUR28 million, from CaixaBank and Metrópolis.

The resort is a four-star, beach front hotel with 372 keys in Costa Teguise, Lanzarote, located opposite the Hotel Barceló Lanzarote.
 
Barceló Group will be the new operator through a fixed and variable lease contract.
 
Following this acquisition Hispania owns a total of 35 hotels, primarily resorts, accounting for more than 10,400 keys and making it the largest hotel owner non-operator in Spain.
 
“Canaries is still a key market for Hispania, given its stable occupancy throughout the year and its high exposure to European tourists. This transaction shows Hispania’s capacity to access investments which are, not only attractive standalone, but that complement and add value to the existing portfolio”.

 

Source: PropertyFundsWorld