Mare Nostrum Resort in Tenerife has been sold for €430 million (£368m) – the largest hotel deal in Spanish history.
The deal includes Mare Nostrum Resort’s three hotels – the five-star Mediterranean Palace, five-star Sir Anthony and four-star Cleopatra Palace – as well as its MICE centre and outlets including Hard Rock Cafe and Palapa Beach Club.
The resort, in the Golden Mile of Playa Las Americas in the south of the island, recently underwent a €56m renovation by previous owner Selenta Group before being sold to Tenerife-based Spring Hotels Group.
Spring Hotels Chief Sales Officer Joanne Robinson said the group already has strong partnerships with UK operators TUI, Jet2, and easyJet and said its ‘newly formed dedicated trade team all ABTA trained (such as on customer service), is fully committed to simplifying agent bookings, maximising visibility across all sales channels, and making life easier for our valued trade partners’.
She said: “We’ll be educating everyone in the UK and Ireland about our new portfolio imminently. There’s real excitement about what this means for agents and customers alike.”
Spring Hotels CEO Miguel Villarroya said: “This is more than a hotel expansion, it’s a proud repositioning of this iconic resort into local hands.
“It’s a bold commitment to quality, a wider product range, and to Tenerife itself. This operation reflects the group’s strength and sustained growth over the past decade. It’s a strategic step that reinforces our position as a sector leader while expanding our offering by complementing our four-star portfolio with high-end tourism products.
“This highlights our ability to invest and manage locally. With over 40 years of presence in Tenerife and the Canary Islands, we reaffirm our long-term commitment to the region, with a continued focus on responsible tourism and sustainable development.”
Spring Hotels already owns four-star properties Hotel Vulcano, Bitcora and Arona Gran. It has doubled the size of its portfolio with the Mare Nostrum Resort acquisition.
