How is it possible that an external group without all the financial machinery could prevail over the manager of the Santana Cazorla hotel complex, Grumasa (Livvo), in southern Gran Canaria? The auction hammer has delivered its verdict, but the echoes of the dispute still resonate. The Lopesan Group has emerged as the main winner of the auction of the Santana Cazorla group's assets, a liquidation process that has raised more than €99 million and sparked a dispute among Gran Canaria's tourism giants.
The main battle was fought for Lot 1, which includes four hotels in the south of the island. In a close duel, according to Canarias 7, Lopesan surpassed the offer from Grumasa (Martinón), which currently manages the properties under the Livvo brand, by just €1.000. Lopesan's bid amounted to €85.001.000, compared to its competitor's €85.000.000. This figure, more than doubles the initial asking price of €39,3 million.
Lopesan's strategy was detailed, submitting specific offers for each of the hotels, while Martinón opted for a global bid, according to Canarias 7. The tension of the process was repeated in other categories. In Lot 2, which included 26 commercial premises in Playa Taurito, Lopesan's offer of €5.201.000 million again surpassed Perfumería Europa's by a narrow margin of €1.000 million. Meanwhile, the firm Servatur was awarded Lot 5, a building plot in Arguineguín, with a bid of €2,64 million, surpassing Lopesan's €2,63 million.
In other lots, Lopesan's dominance was complete. It won Lots 3 and 4, two building plots in Meloneras, with bids of €3,5 million and €2,9 million, respectively, without having to compete with other interested parties. The process, managed by the real estate consultancy CBRE, raised a total of €99,2 million in bidding for the five lots, doubling the minimum starting price.
However, the closing of the auction does not mean the end of the disputes. The company Promociones Isla Verde (Proivesa) has filed an appeal to request the suspension of the auction. Proivesa has been involved in a dispute with Santana Cazorla for more than 30 years over the ownership of the land where two of the auctioned hotels are located, the Valle Taurito and Lago Taurito. Although the Commercial Court rejected the suspension of the process, the July ruling opened the way for the disposition of the assets once awarded to the company, which could be affected by this corporate dispute. According to close sources, Proivesa is determined to take the case to the Provincial Court if its appeal is rejected, which adds a layer of uncertainty to the outcome of the bidding and ensures that this war, the real one, continues to be waged in the courts.
