A NEW multi-million euro property group is expanding across Spain.

Hispania – created by property manager Azora – has made its second investment in domestic hotels since its March listing.

After acquiring a complex in Malaga, the group has purchased the Melia Jardines del Teide hotel in Tenerife for €37 million.

Hispania has so far concentrated on adding residential and office properties in Madrid and Barcelona to its portfolio as well as snapping up 4 and 5-star hotels across Spain.

Since launching its company at €10.00 per share in March, Hispania is up by 3%.