Millenium Hotels buys two hotel plots and 14 hectares of land in Cádiz for 33.2 million

Millenium Hotels has acquired two hotel plots and 14 hectares of beachfront land that include two golf courses near Sotogrande in the municipality of San Roque (Cádiz), for 33.2 million euros.

The objective of the operation is, as the company explained this Friday, the development of a ‘resort’ of hotel luxury, which aims to become the «most exclusive» in southern Europe.

For this, the company has purchased, in a joint operation, a plot of 90,000 square meters on the beachfront, near Sotogrande and the companies Alcaidesa Holding and Alcaidesa Golf, which include, among other assets, an urban plot of 50,000 square meters Residential and hotel use, two golf courses and a club house of more than 5,000 square meters.

The president of Millenium, Javier Illán, has pointed out that «the Costa Gaditana, despite having some of the best beaches in Spain and major tourist attractions, is probably the least developed in modern high-quality hotel projects, and instead there is a clear and growing demand for luxury customers and operators for these types of establishments. »

This asset joins the Millenium Hotels portfolio, consisting of 8 assets in Spain: the Vía Castellana hotel in Madrid, the Lucemtum hotel in Alicante, the Plaza Magdalena and Plaza San Francisco hotels in Seville, the Gran Vía and Meliá hotels in Bilbao , as well as the old Hotel Asturias in Madrid in front of the Four Seasons Canalejas complex, to which the La Hacienda San Roque project in Cádiz now joins.

This asset joins the Millenium Hotels portfolio, consisting of 8 assets in Spain: the Vía Castellana hotel in Madrid, the Lucemtum hotel in Alicante, the Plaza Magdalena and Plaza San Francisco hotels in Seville, the Gran Vía and Meliá hotels in Bilbao , as well as the old Hotel Asturias in Madrid in front of the Four Seasons Canalejas complex, to which the La Hacienda San Roque project in Cádiz now joins.

With this acquisition, Millenium is about to reach this year a volume of investment at an end value close to 500 million euros.

The purchase comes a few days after the Millennium General Meeting of Shareholders approved two capital increases of up to 400 million euros, which will provide the company with the necessary resources to address new investment opportunities.