Three hotels owned by the Santana Cazorla Group in Playa de Taurito, Gran Canaria, are being put up for public auction alongside 26 commercial premises, a municipal concession in San Bartolomé de Tirajana, and three plots of land.
The sale follows court authorisation and will be managed by the international real estate services firm CBRE.
CBRE was appointed by the court-appointed insolvency administrator, Lener Administraciones Concursales, SLP, to handle the sale process. The public auction, which begins this week, will see a total of five asset bundles offered to the market.
Hotels and Assets on the Block
Among the most notable assets are the LIVVO Valle Taurito, LIVVO Lago Taurito, and LIVVO Costa Taurito hotels, all located in prime seafront positions in one of Gran Canaria’s busiest tourist areas. The Hotel Las Tirajanas, located inland, is also included in the auction.
The offering also comprises 26 commercial units in Playa de Taurito in Mogán. Additionally, three plots of land are being sold, two in Maspalomas and one in Arguineguín, both sought-after locations for development.
CBRE noted that all hotels have remained operational throughout the insolvency process, maintaining high occupancy rates and strong performance, with continued positive feedback from tour operators and guests.
A Buoyant Market
Despite economic uncertainty in recent years, including the pandemic, the hotels have improved operational performance and received capital investments (Capex) for upgrades. CBRE said the current market climate and future outlook for the tourism and hospitality sector remain favourable.
Jorge Ruiz, Head of Hotels for Iberia at CBRE, stated: “The hotel sector continues to attract strong investor interest, bolstered by record tourism figures and rising operational performance. The Canary Islands, for the second consecutive year, led national hotel investment in 2024, accounting for 19% of total sector investment.”
He added that there is "significant interest from value-add and opportunistic investors", driven by positive operating results, stabilising interest rates, and a controlled inflation environment.
Canary Islands: A Leading Destination for Hotel Investment
In 2024, hotel real estate was the second most attractive asset class in Spain, drawing €3.21 billion in investment by year-end, €938 million of which came in the fourth quarter alone. Hotel transactions represented 23% of the total real estate deals in the country, according to CBRE data.
Between 2017 and 2024, the Spanish hotel sector attracted over €25 billion in cumulative investment. Last year alone, 170 hotel assets and 17,400 rooms changed hands. The Canary Islands led the way with 19% of total investment, followed closely by Madrid (19%), Barcelona (18%), the Balearic Islands (14%), and Málaga (10%).
The upcoming auction of Santana Cazorla’s assets in Gran Canaria is expected to draw considerable attention from both domestic and international investors seeking prime opportunities in Spain’s top-performing tourism market.
