Hispania Buys Two Hotels For €105 Million on Fuerteventura, Canary Islands

The investment fund Hispania Activos Inmobiliarios, S.A., has acquired two hotels on the Canary Islands. The two hotels are the Suite Hotel Atlantis Fuerteventura Resort and the Gran Hotel Atlantis Bahía Real, both located on the Canary Islands. The Gran Hotel Atlantis Bahia Real is a 5-star deluxe hotel with 242 rooms and the Suite Hotel Atlantis Fuerteventura Resort, a 4-star hotel with 382 rooms. The company note that “these two acquisitions give new impetus to investment in resort hotels Hispania, developed jointly with Barceló Group and help to strengthen its presence in the Canary Islands, a key market in the holiday company strategy”. The acquisition entailed a price tag of €105 million, equivalent to a multiple of 10.5 the operating gross profit for the previous 12 months to March 2015. Both hotels will remain under operation of the Atlantis Group.

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