Opening of the first phase of Barceló Lanzarote Active Resort following an invest of nearly € 17 million

Hotel Investment Partners (HIP), the largest owner of resort hotels in Southern Europe owned by funds managed by Blackstone, and Barceló Hotel Group continue to make progress in their plan to reposition their hotel assets in the Canary Islands, one of their strategic destinations.
Both companies announce today the opening of the first phase of the Barceló Lanzarote Active Resort, comprising the former Occidental Lanzarote Playa and Occidental Lanzarote Mar, following an investment of almost €17 million. When the second phase of repositioning and investment is completed next summer, Lanzarote will have an "active resort" destined to become a European benchmark for this type of tourism and the first resort of this type in HIP's portfolio. The resort is ideal for those looking for a balance between wellness, sports and a wide range of gastronomic and leisure activities.

Located on El Ancla beach in Costa Teguise, the former 4-star Occidental Lanzarote Playa is reopening after a complete renovation of its facilities and services. It has 372 totally refurbished rooms, 148 of which are Royal Level category rooms with exclusive services.

The new resort incudes 'La Plaza', a large space to enjoy live music, shops, as well as a varied gastronomic offer to satisfy the needs of all the guests: two buffet restaurants, two a la carte restaurants, and a sports bar that complements the other four bars available around the pools and the lobby.

Once completed, the Barceló Lanzarote Active Resort will have 814 rooms and a wide range of sports facilities: Olympic-size swimming pool, high-performance gym, professional cycling centre, as well as direct access to the beach to enjoy open water swimming and other water sports such as windsurfing and kitesurfing. It is an important milestone for HIP and their strategic partners, Barceló Hotel Group. The reopening demonstrates HIP’s commitment to generating value for the destinations where they operate through investment and repositioning. In doing this, local and international visitors will enjoy an excellent experience in their hotels.

About HIP
HIP was founded in 2015 by Alejandro Hernández-Puértolas and Banco Sabadell and was subsequently acquired by Blackstone in 2017. Through subsequent acquisitions, the portfolio has grown to 71 hotels totalling ~21k keys across Spain, Greece, Italy and Portugal. With the latest acquisition in Italy, the portfolio will expand to 71 hotels and ~21k keys.
HIP has a dedicated team of around 100 professionals specialised in acquisitions, execution, renovation and repositioning of well-located but undercapitalised hotels. The team works in partnership with various hotel operators such as Ritz-Carlton, Barceló, AMR Resorts by Hyatt, Hilton, Ledra and Marriott with the aim of improving hotel management and travelers' experience during their stay. HIP will invest more than 600 million euros in its existing portfolio of resorts.

About Barceló Hotel Group
Barceló Hotel Group, the hotel division of the Barceló Group, is the 2nd largest hotel chain in Spain and one of the 30 largest in the world in number of rooms. The company was recognized as the "Best Management Company in the World" at the latest World Travel Awards, considered the Oscars of tourism. It currently has more than 270 4- and 5-star urban and resort hotels and more than 60,000 rooms, distributed in 24 countries around the world and marketed under four brands: Royal Hideaway Luxury Hotels & Resorts, Barceló Hotels & Resorts, Occidental Hotels & Resorts and Allegro Hotels & Resorts. It is also part of the Crestline Hotels & Resorts group, an independent hotel company with more than 130 establishments in the United States. For more information: www.barcelo.com