Spring Hotels has acquired the Mare Nostrum Resort in southern Tenerife from Brookfield’s Selenta Group for €430m, marking the largest-ever single hotel asset transaction in Spain. 

The off-market deal significantly expands Spring Hotels’ footprint in the Canary Islands and adds more than 1,000 rooms to its portfolio.

Located on the beachfront of Playa de Las Américas in Arona, the resort comprises three properties: the five-star Mediterranean Palace (536 rooms), the five-star Sir Anthony (70 rooms), and the four-star Cleopatra Palace (431 rooms). It also includes key entertainment and hospitality venues such as Hard Rock Café Tenerife, the seafront La Palapa Beach Club, and the Pirámide de Arona auditorium, which seats up to 3,000 guests and houses a major conference centre.

“This acquisition positions us as a benchmark in the sector and broadens our product offering, combining our four-star hotels with luxury tourism products,” said Miguel Villarroya, CEO of Spring Hotels. “It demonstrates our capacity for investment and local management.”

The deal raises Spring’s total owned and managed capacity to over 2,300 beds across six hotels, further consolidating its presence in Tenerife, where it already operated three properties. The Mare Nostrum Resort had previously undergone a €56m refurbishment under Selenta Group, which Brookfield acquired in 2021.

Colliers advised Spring Hotels on the transaction, leveraging its prior knowledge from advising Brookfield during the initial acquisition. “This is the largest deal ever recorded in Spain for an individual hotel asset, executed off-market and led by a hotel chain — clear signs of the current market strength,” said Gonzalo Gutiérrez, Managing Director at Colliers. “These high value-added, off-market transactions are a strategic focus for us.”

Spring was advised by AZ Capital as financial advisor and by KPMG on legal, tax, financial, and labour due diligence. Brookfield was advised by Pérez-Llorca, Eastdil Secured, and JLL.

The transaction boosts Spain’s hotel investment volume in H1 2025, pushing it 10% above the same period in 2024. It also reaffirms the Canary Islands as the top destination for hotel investment in Spain this year, accounting for nearly 40% of total volume to date.

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