Spanish hotel firm Spring Hotels Group acquired the 1,037-room Mare Nostrum Resort Tenerife from Brookfield Asset Management for €430 million ($506.7 million). Business advisory Colliers helped broker the off-market deal and called it the largest single-hotel deal in Spanish history.
The price per key is approximately €414,700 ($488,512). The resort also has a beach club, the Hard Rock Cafe Tenerife, and the largest events venue in the southern part of Tenerife, the Pirámide de Arona, which seats 3,000 people.
Located in the island’s Playa de las Américas district, long loved by sun-seeking tourists, the Mare Nostrum contains three separate hotels — the 536-room Mediterranean Palace; the 431-room Cleopatra Palace; and the 70-room Sir Anthony Hotel.
Brookfield acquired the hotels in August 2021 as part of its purchase of Selenta Group for €440 million. Selenta's portfolio comprised 2,237 rooms and four hotel assets in locations such as Barcelona and Marbella. That deal was also brokered by Colliers.
Before the July 1 acquisition, Spring Hotels had three hotels in its portfolio, all on Tenerife in the Canary Islands — the 391-room Arona Gran Hotel; the 371-room Spring Hotel Vulcano; and the 314-room Spring Hotel Bitácora.
The Mare Nostrum Resort’s hotels have many restaurants, bars, pools and other vacation offerings.
Colliers added the deal means that Spain has already recorded through the first half of 2025 a transactions-volume figure 10% above the same period in 2024, and the Canary Islands has contributed 40% of Spain’s 2025 investment total.
CoStar News Hotels contacted Colliers for a comment but had not heard back at press time.