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The Kempinski hotel in Marbella goes on sale for 60 million euros

By Mas Property

on Thu May 18 2023

The Kempinski Hotel in Marbella, owned by a Swiss family, is on the market for a minimum of 60 million euros. Property features include a golf course and an inland boardwalk.

Azora, the investment group of Fernando Gumuzio and Concha Osácar, was already interested in the past and would have submitted an offer for the hotel. So has David Shamoon, a businessman with large interests in Marbella. In addition to being the owner of Puente Romano, a complex with more than 250 rooms and three villas on what is known as Marbella’s golden mile, it also manages the Marbella Club, another of the great hotels in the city of Malaga.

Azora, for its part, recounts in its cover letter investments of 1,200 million euros between 2014 and 2018 in the acquisition of thirteen thousand rooms. In addition, in 2019, it launched the Azora European Hotel & Lodging fund, a vehicle with more than 800 million euros to invest in hotels in Europe.

Azora has important hotel investments, while Shammon owns the Puente Romano complex and manages the Marbella Club

The interest of these two groups in the Kempinski in Marbella comes at a time when tourism in Spain is going through a sweet moment. Destinations such as the Balearic Islands, the Canary Islands or the Costa del Sol have become prime areas for large investment groups or international funds that acquire hotels.

The hotel segment attracted investments of 3,279 million euros in the past year, a computation that includes from hotels in operation, properties for conversion into hotels, to land for hotel use.

Last year, a total of 133 hotels and 17,754 rooms were transacted, compared to 127 hotels and 19,043 rooms in 2021. Additionally, the purchase and sale of another thirty assets was carried out, including land for hotel development and real estate for conversion into a hotel.

Source: El Confidencial, May 2023

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