Spring Hotels has completed the acquisition of the Mare Nostrum Resort complex, owned by Selenta Group — the Spanish subsidiary of Brookfield — for a total of €430 million. Located on the beachfront of Playa de Las Américas, in the municipality of Arona in southern Tenerife, Mare Nostrum Resort is the largest holiday complex on the island and one of the key hotel landmarks in the Canary Islands.
The transaction includes three hotels: the Mediterranean Palace (5* with 536 rooms), the Sir Anthony (5* with 70 rooms), and the Cleopatra Palace (4* with 431 rooms, spread across three separate buildings and focused on adults and couples). Altogether, the resort offers 1,037 rooms. In addition, the complex includes major complementary assets such as the Hard Rock Café Tenerife — one of the brand’s main venues in southern Europe — with capacity for over 550 guests; the Beach Club La Palapa, a 640 m² space on the seafront promenade; and the Pirámide de Arona, the largest auditorium in the south of the island, with seating for up to 3,000 people, as well as a conference and exhibition centre with capacity for over 1,600 attendees.
Described by the company as “the largest single hotel asset transaction ever carried out in Spain”, this acquisition represents a strategic move for Spring Hotels, adding over 1,000 rooms to its portfolio and raising its total capacity to six hotels and more than 2,300 beds owned and managed in one of the Canary Islands’ top tourist destinations. The group, which originated in Catalonia and also owns the Intercontinental Barcelona, thus reinforces its strong presence in southern Tenerife, where it already operated three properties.
The complex was recently refurbished with a €56 million investment managed by Selenta Group, following Brookfield’s acquisition of the chain in 2021 — a transaction in which Colliers acted as advisor. In this latest deal, Colliers has once again advised, this time supporting Spring Hotels, leveraging its in-depth knowledge of the asset and the market.
“The acquisition of Mare Nostrum Resort is a strategic move that positions us as a benchmark in the sector and broadens our product offering, combining our four-star hotels with luxury tourism products. This operation demonstrates our capacity for investment and local management,” said Miguel Villarroya, CEO of Spring Hotels.
Gonzalo Gutiérrez, Managing Director of Colliers, added: “This transaction confirms the excellent momentum of the hotel market. It is the largest deal ever recorded in Spain for an individual hotel asset, carried out in an off-market context and led by a hotel chain — clear signs of the current market strength. Our deep knowledge of the resort, thanks to our advisory work for Brookfield during its acquisition in 2021, our constant engagement with the market, and our ability to anticipate and align both parties’ interests have been key factors in the success of this deal. These types of off-market, high value-added transactions are the strategic focus for Colliers in the current context”.
The acquisition significantly boosts total hotel investment for the first half of the year, putting it 10% above the same period in 2024 and consolidating the Canary Islands as the leading investment destination, accounting for nearly 40% of total volume so far this year. It also reinforces the trend anticipated by Colliers that national hotel chains are playing an increasingly leading role in hotel investment in Spain.
Spring was advised by AZ Capital as financial advisor for the transaction, by KPMG for the legal, tax, financial and labour due diligence, and by Colliers, which also acted as intermediary. Selenta (Brookfield), meanwhile, was advised by Pérez-Llorca, Eastdil Secured and JLL
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