Spain’s Biggest Hotel Deal Ever: Mare Nostrum Resort Sold for €430 Million

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: CoalDiabolo, 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.

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