Selenta Group, a Brookfield Asset Management-owned Spanish hotel owner and operator has sold the Mare Nostrum Resort for €430m to the Spring Hotels chain.
Albert Tomàs, Selenta Group CEO, said: “The disposal of the Mare Nostrum Resort once again demonstrates the capacity of the Selenta Group to carry out high-quality total hotel transformation and repositioning projects, with success assured.
“Thanks to the support and confidence of our shareholder, Brookfield, we drew up and executed an ambitious investment and repositioning plan that has made the resort much more competitive. This milestone bolsters our group identity and launches us into the future with the ambition to lead our projects.”
Alberto Nin, managing director of Brookfield Real Estate, said: “The project to reposition Mare Nostrum has been a resounding success. Selenta has very efficiently carried out the transformation of the resort and optimised its operating model to achieve RevPAR growth of 91% over the last 12 months.
“We are also confident that Spring, as the local operator, will provide the continuity and robustness required to consolidate this great project.”
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