YET another of the Costa del Sol’s most famous luxury resorts has been snapped up by a British investment fund after Estepona’s luxury Kempinski Hotel Bahia went for a cool €58 million, according to reports.
London & Regional is now the proud new owners of the establishment, which boasts 145 rooms and suites, three pools, a spa, five bars and restaurants, as well as six meeting rooms for events.
Sources initially indicated that the owners aimed to fetch between €60 and €70 million for the property. However, the final agreement is believed to be in the range of €56-58 million.
London & Regional’s investment portfolio in Spain already encompasses eight properties, featuring both national and international hotel chains well-known to tourists.
The portfolio comprises a total of 2,988 rooms across Spain, with the biggest being Sol Principe in Torremolinos with 799, followed by Sol Palmanova in Magaluf with 653.
Other notables include Innside Ibiza (375 rooms), Le Meridien Barcelona (331), ME Ibiza & Nikki Beach (200), Nobu Ibiza (152), Sol Lanzarote (341), and Vincci Marbella Estrella del Mar (137).
The first two hotels were acquired in Barcelona and Ibiza in 2014, followed by another in Malaga in 2016, and the rest in 2017.
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