The Hotel Investment Partners (HIP) fund continues with its asset repositioning strategy in the Canary Islands. Blackstone Hotel Investment Platform and Barceló Hotel Group have invested 17 million euros in the rehabilitation of the asset, according to a press release issued by the company. The hotel has been open to the public since June.
The four-star resort of Playa del Inglés has 491 renovated rooms, 168 of which are royal level (suites and junior suites). HIP reported that the repositioning of the asset is the most comprehensive renovation carried out at the establishment since its inauguration in 1974. An additional swimming pool with a family leisure area has been built and new bars and restaurants have been added.
The investment in the Margaritas hotel follows HIP's roadmap in alliance with Barceló, which includes investments in the renovation of the assets to reposition them and for the Mallorcan operator to assume management. This July, Blackstone also announced the opening of the second and final phase of the Barceló Lanzarote Active Resort after an investment of more than 34 million euros. This is the first station in this category in HIP's portfolio. Located on El Ancla beach, in Costa Teguise, the Barceló Lanzarote Active Resort is a 4-star establishment with 814 rooms, 148 of which are Royal level with exclusive services.
The Barceló Lanzarote Active Resort is characterized by its offer of sports facilities: a fifty-metre heated Olympic pool, a high-performance gym, a professional cycling centre, as well as direct access to the beach for swimming in the water and other water sports. such as surfing, windsurfing and kitesurfing.