Real estate investment firm ActivumSG has acquired the 311-room Fairmont La Hacienda Costa del Sol in the Spanish coastal resort of San Roque for €175 million ($202.5 million) or approximately €562,700 per key.
The property, which opened in the first quarter of 2025, also contains 98 branded residences and two championship-quality golf courses.
The firm announced in a news release its ActivumSG Fund VII acquired the hotel from Spanish real estate investment trust Millenium Hotels Real Estate and that it was “able to execute the acquisition at an optimal entry point … avoiding construction risk as a turnkey transaction. The firm will now leverage its hotel management capabilities to further enhance the asset’s operational performance.”
“This transaction reflects our continued conviction in the Spanish hotel sector, which is supported by long-established fundamentals that are further strengthened by longer summer seasons and changing travel patterns,” ActivumSG founder and CEO Saul Goldstein said.
The hotel was first announced in October 2022, with Millenium Hospitality Real Estate announcing branding with Accor flag Fairmont and a hotel-management agreement with Odyssey Group.
Spain continues to be Europe’s hottest hotels transaction market.
“Our activity in Spanish hotels, with an emphasis on the luxury and convenience segments, is in line with of our wider thematic focus on the European accommodation sectors, covering living, hospitality and everything in between, where there is a shortage of institutional-quality product relative to investor demand,” Goldstein said.
Business advisory Christie & Co said the country’s hotel transaction volume in 2024 reached €3.3 billion, with approximately 59% deriving from domestic capital and 51% earmarked for urban hotels and markets.
Among Spanish hotel deals in 2025 was Paris-based investment firm Genefim (Société Générale Group) acquiring the 319-room hotel Exe Rey Don Jaime in Valencia from Atom Hoteles SOCIMI for €50 million, or €156,740 per key.
ActivumSG's other hotels in Spain include the 471-room SLS Barcelona and 259-room Nobu Hotel Barcelona.