Corum Asset Management Acquires First Resort Hotels in Spain from Senator Hotels & Resorts
Madrid, 26 February 2020 – French real estate investment firm Corum Asset Management has completed its first acquisition in Spain’s thriving resort hotel sector through a sale and leaseback transaction with Senator Hotels & Resorts.
Spain remains one of the most visited countries globally, and its leisure destinations continue to attract growing interest from international investors. Corum, which manages over €2 billion in assets, has now entered the Spanish vacation hospitality market with the acquisition of two adjacent 4-star hotels, Playalinda and Playasol, located in Roquetas de Mar, near Almería. Together, the properties comprise 446 rooms and enjoy a privileged seafront location.
As part of the transaction, Senator Hotels & Resorts—an established operator with more than 50 years of experience in the region—will remain as the long-term tenant. Senator will lead a comprehensive renovation and repositioning project aimed at integrating both hotels, enhancing operational efficiencies, and elevating the combined resort to best-in-class standards within the regional luxury segment.
Optimus Global Investors acted as advisor to the buyer, contributing deep local market expertise and financial structuring support throughout the process. Deloitte advised Senator Hotels & Resorts in alignment with the group’s ongoing asset-light strategy.
Kris Van Lancker, Managing Director at Optimus Global Investors, commented: “The complexity of this transaction lay in underwriting a substantial CapEx plan designed to unify and reposition the hotels in the luxury segment, while ensuring robust lease covenants. The result is a strong, long-term partnership that will reinforce the property’s status as a leading resort destination in Almería.”
This landmark transaction underscores continued investor appetite for Spanish resort assets and marks a strategic milestone for Corum Asset Management as it expands its footprint in Southern Europe.