The new land classification at the Ceisa cement plant in El Pajar opens the door for the owners to potentially develop this land in Santa Águeda. The owners have experience in the hotel sector, catering to the high-spending segment at a very low cost, given that some staff would be reassigned to the construction of a high-end resort, and raw materials would also be available. Masaveu holds 5,311% of Bankinter's share capital, and Bankinter owns the REIT Atom, which operates two hotels in southern Gran Canaria: the Paradisus Gran Canaria, run by Meliá, in San Agustín, and one managed by Labranda in Mogán.
The Masaveu family's land, home to the Ceisa cement factory, has been claimed by operators such as Cordial Hoteles for tourism development, and Masaveu understands that sooner or later it will have to relocate the factory, given that the current zoning prevents it from expanding. Since the land would be zoned for hotels, Masaveu has tasked its observers with assessing how the change of use would be perceived in southern Gran Canaria, and the local authorities have declared: there is no opposition. Two options are on the table, but the most advantageous is Iberostar due to its marketing network. Iberostar has a strategic alliance with IHG, the fifth largest hotel chain in the world, with 6.000 properties and 885.000 rooms. In the Canary Islands, Iberostar has 11 hotels, none in Gran Canaria, despite its repeated attempts to find suitable partners.
The plan is for a superior five-star hotel that would already have three operators with whom the Masaveu family has hotel experience. These include Iberostar, owned by the Fluxá family, with whom they have a luxury hotel in Hungary, and Hospes, which manages the Hospes Puerta de Alcalá in Madrid, owned by the Masaveu family and managed by a company jointly owned by Omega Capital (Alicia Koplowitz) and Gaw Capital Partners (Chinese capital).
Hospes is a leader in the luxury boutique hotel segment in Spain and Portugal, where it added a high-end hotel this summer. Hospes has a significant presence throughout Spain, with a portfolio of cutting-edge design hotels boasting a distinctive and unique style, situated in exceptional locations in Spain's most important cities. In the case of southern Gran Canaria, the product would be similar to Hospes' offerings in Mallorca, which also features a marina.
In the United States, since 2016, Masaveu Corporation, together with its local partner, Vista Investments, has operated a Hampton Inn hotel in Glendale, California. The hotel, part of the Hilton group, has 94 rooms and represents a total investment of $22 million. This investment was made through Masaveu Corporation SA's American subsidiary, Masaveu LLC, which holds 75% of the capital of Mavi LLC, the entity that owns the newly opened hotel. The remaining 25% belongs to Vista Investments, LLC, a business group with over 25 years of experience in the development, acquisition, and management of hotels, primarily on the West Coast of the United States.
With this opening, Masaveu expanded its investments in the California hotel sector, also owning two other hotels in Sacramento and San Diego, with 105 and 40 rooms respectively, operated by the Best Western and Vagabond Inn chains. Masaveu Corporation added to this portfolio a building located in Washington, D.C., as well as the BBVA Compass building in Houston and the Le Courvoisier building in Miami, acquired in recent years.
Santa Águeda Cement Plant 
