Spring Hotels Group has completed the purchase of the Mare Nostrum Resort located on the ‘Golden Mile’ in Playa Las Americas, in the south of Tenerife, from Selenta Group (owned by Brookfield), in a deal valued at €430 million.
This acquisition is the largest hotel asset transaction in history in Spain.
The Mare Nostrum Resort comprises of three flagship hotels: the five-star Mediterranean Palace, the five-star Sir Anthony, and the four-star Cleopatra Palace. With this strategic move, Spring Hotels adds over 1,000 rooms to its portfolio, expanding its total capacity to six hotels and more than 2,300 beds owned and managed in one of the Canary Islands’ and Spain’s top tourist areas.
In addition to its hotel offerings, the Mare Nostrum Resort brings several premium tourism products under Spring Hotels’ umbrella, including a state-of-the-art MICE centre (meetings, incentives, conferences and exhibitions) capable of hosting more than 1,600 people, a Hard Rock Cafe, a beach club, an auditorium, and other complementary dining venues. The resort has recently undergone a €56 million renovation carried out by Selenta Group.
This acquisition consolidates Spring Hotels’ position as a key player in the southern Tenerife holiday market. It also allows the group to diversify its portfolio, targeting higher-value market segments and strengthening its presence in the lucrative conference and incentive travel sector.
Commitment to Tenerife and sustainable tourism
Miguel Villarroya, CEO of Spring Hotels, said: “This operation is a testament to the group’s strength and growth over the last decade. It’s a strategic move that positions us as a benchmark in the sector, diversifying our offering by complementing our four-star hotels with luxury tourism products. It also underlines our investment capacity and local management expertise. Above all, it reaffirms our commitment to Tenerife and the Canary Islands, where we have been operating for more than 40 years, always advocating responsible tourism and contributing to the sustainable development of our community.”
The transaction has been supported by CaixaBank, advised legally by Cuatrecasas, through a sustainable loan. Spring Hotels was advised by AZ Capital on the financial side, while KPMG led the legal, tax, financial and labour due diligence. Colliers also played a role in brokering the deal.
Boost to the regional economy and future growth
Through this acquisition, Spring Hotels not only expands its accommodation capacity but also aims to optimise operational and commercial synergies, driving future growth, profitability, and strengthening its negotiating power in the market.
The addition of Mare Nostrum Resort, in a municipality where Spring Hotels already operates three other hotels, underlines the group’s strong commitment to quality tourism. It firmly positions Spring Hotels as a leading force to watch in the sector, well placed for future opportunities.
About Spring Hotels Group
Founded in 1985, Spring Hotels Group now manages six hotels and a MICE centre, along with several dining venues in Arona, Tenerife. With more than 2,300 beds under management and over 1,000 employees, its portfolio includes four four-star hotels: Hotel Arona Gran & UP!, Hotel Bitácora & UP!, Hotel Vulcano & UP!, and Hotel Cleopatra, as well as two five-star hotels: Mediterranean Palace and Hotel Sir Anthony.
