In a significant move that strengthens its presence in the Canary Islands, Alexandre Hotels has acquired the Grand Teguise Playa Hotel in Lanzarote. The transaction was finalised following the sale of the ownership by CaixaBank and Metrópolis, who held a 60% and 40% stake in the property, respectively.
The Grand Teguise Playa is a four-star hotel boasting 300 rooms and a prime beachfront location in Costa Teguise, approximately 14 kilometres from the island’s airport.
This acquisition expands Alexandre Hotels’ portfolio, which already includes resorts in Tenerife and Barcelona, adding Lanzarote as an attractive new destination for its guests.
CBRE, a leading real estate consultancy, dealt with the sale of the property. Commenting on the transaction, Gustavo Cumella, Director of Hotels at CBRE, highlighted the robust activity in the hotel sector.
“This deal shows the excellent dynamism of the hotel sector, both in operational terms and as an investment. The sector’s appeal is expected to remain strong in 2025, supported by positive operating results, stabilised interest rates, and controlled inflation,” he said.
The hotel sector has proven to be one of the most sought-after areas of the real estate market, becoming the second most lucrative segment in 2024 with a capital inflow exceeding €3.2 billion, according to CBRE data.
Between 2017 and 2024, the industry attracted over €25 billion in investment, solidifying its position as a key focus for investors in Spain.
This acquisition by Alexandre Hotels marks a continued confidence in the growth potential of Lanzarote, and the Canary Islands, as a premier tourist destination, reinforcing its appeal in the global hospitality market.
