Lopesan Group has consolidated its dominant position in the Gran Canaria tourism market. A ruling issued by Commercial Court No. 1 of Las Palmas de Gran Canaria, dated September 17, 2025, ratified the provisional award of the Taurito hotels and key assets, despite appeals filed by its competitor, the Grumasa Martinón group, which was once capitalized with investments supervised by the Castros in Cuba when the communist regime allowed private capital to enter.
The court ruling, signed by Judge Alberto López Villarubia, confirms that the appeals filed by the company División Turística Valle Taurito SL (Martinón) and the works council of Mar Abierto SL (Grupo Santana Cazorla) are not suspensive. This means that the sale to Lopesan will move forward, a move that will have profound implications for the leisure and hospitality asset portfolio in the south of the island.
The court ruling underscores the financial superiority of Lopesan's bid. CBRE Real Estate, the specialized firm responsible for the liquidation of Mar Abierto SL's assets, officially notified Lopesan's subsidiaries (Isla Marina SL and Lopesan Touristik SAU) of its provisional bidder status for four of the five lots auctioned (lots 1 to 4).
Lopesan's total bid for the five lots amounted to €99.432.000, exceeding Grumasa Martinón's offer by €12.932.000. Specifically, for Lots 1 (hotels and Taurito assets) and 2 (retail premises), the difference in favor of Lopesan was €3.702.000, contradicting previous reports indicating a marginal difference.
Lopesan was the only operator to submit bids for all the lots, including the building plots in Meloneras (Lots 3 and 4), consolidating a comprehensive investment strategy for Gran Canaria. Judge López Villarubia also shed light on the bankruptcy proceedings, rejecting the bankruptcy administrators' request to link this auction of five lots to a subsequent auction of two lots.
The judge argued that "the auction is governed by rules that must be respected" and that linking the two bids makes no sense given that the first auction already generated €99.242.000, amply covering the bankruptcy liability of €84.729.831. With this ruling, the judge urges the bankruptcy administrators to urgently complete the procedures for granting the deeds of sale for lots 2 through 5, initiating the transfer of ownership and clearing the way for Lopesan to begin its development and investment plan in the strategic Taurito area.
This move not only represents a victory for Lopesan in a highly competitive environment, but also sets a precedent for the resolution of high-value insolvency assets in the Canary Islands tourism sector. The market will now be attentive to the investment and capex plans that Lopesan will allocate to the renovation and operation of the new assets.
