Brookfield exits landmark Tenerife asset in record-breaking €430M deal with Spring Hotels
In a historic move for Spain’s hospitality sector, the iconic Mare Nostrum Resort in Tenerife has been acquired by Spring Hotels Group for €430 million, marking the largest single-hotel transaction in Spanish history.
The off-market deal was brokered by Colliers and involved Brookfield – via its Selenta Group platform—transferring the reins to a prominent local operator. This transaction cements Tenerife’s importance on Europe’s hospitality investment map.
Property Highlights:
- The resort includes 1,037 rooms across three distinct properties:
- Mediterranean Palace (536 rooms)
- Cleopatra Palace (431 rooms)
- Sir Anthony (70 rooms)
- Prime beachfront location with iconic attractions:
- Hard Rock Café Tenerife
- Pirámide de Arona, a performance venue with 3,000 seats
- Signature dining experiences: Coal, Diabolo, and The Pier
Key Deal Metrics:
- Transaction price: €430 million
- Price per key: ~€414,700
- €56 million invested in renovations
- Over 90% RevPAR growth since Brookfield’s 2021 acquisition
This deal reflects a broader trend of strategic repositioning and value creation in Southern European leisure assets. Spring Hotels, a well-established player in the Canary Islands, is expected to unlock the next phase of potential in this flagship resort.
