ActivumSG acquires luxury Spanish resort

INTERNATIONAL REPORT – European real estate investment manager ActivumSG has completed the €175 million acquisition from Spanish REIT Millenium Hotels Real Estate of the newly developed Fairmont La Hacienda located in the exclusive San Roque waterfront enclave along Spain’s Costa del Sol.

U.K.-based ActivumSG, on behalf of ActivumSG Fund VII, said it was able to execute the acquisition of 311 keys encompassing hotel rooms, villas, and branded residences, as well as two golf courses at an optimal entry point, avoiding construction risk as a turnkey transaction.

Fairmont La Hacienda, which officially opened its doors in February this year, comprises 311 keys, all of which feature seafront views; these are spread across 213 hotel rooms and villas as well as 98 keys across 42 luxury branded residences available for sale to third party owners.

Our activity in Spanish hotels, with an emphasis on the luxury and convenience segments, is in line with of our wider thematic focus on the European accommodation sectors, covering living, hospitality and everything in between, where there is a shortage of institutional-quality product relative to investor demand.

Saul Goldstein

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ActivumSG said it will work closely with Fairmont to minimize the resort's operational carbon footprint by utilizing state-of-the-art building management and waste reduction systems. The hotel is also equipped with 147 solar panels to cover part of the asset’s energy needs with clean, renewable power. In addition, the luxury branded residential units are all targeting the LEED “Gold” sustainability certification.

“This transaction reflects our continued conviction in the Spanish hotel sector, which is supported by long-established fundamentals that are further strengthened by longer summer seasons and changing travel patterns,” said Saul Goldstein, founder and CEO, ActivumSG. “Our activity in Spanish hotels, with an emphasis on the luxury and convenience segments, is in line with of our wider thematic focus on the European accommodation sectors, covering living, hospitality and everything in between, where there is a shortage of institutional-quality product relative to investor demand.”

ActivumSG has been an active investor in European hotels since 2012 and has developed, owned and managed over €1 billion of assets in the sector. Some of ActivumSG’s other Spanish hospitality-related investments across direct asset and platform investments have included:

• SLS Barcelona, a ground-up development of a 471-room luxury hotel located on Barcelona’s seafront which opened in April 2025 and became the first hotel in Europe operated by Ennismore’s lifestyle hospitality brand, SLS  
• Nobu Hotel Barcelona, acquired in 2021 and revamped to include Barcelona’s highest rooftop pool and bar, this 259-room asset recently became Spain's highest BREEAM rated hotel to date following further ActivumSG-led capital expenditure initiatives   
• Odyssey Hotel Group, a white-label operator of global hotel brands that currently encompasses a portfolio of 25 hotels across Europe providing almost 4,200 rooms, with a further 25 hotels in the pipeline  
• Palacio Solecio, a 230-year-old Andalusian palace in Málaga that was transformed into a luxury boutique hotel and sold for €51 million in April 2024  
• Hampton by Hilton Fira Gran Via, a ground-up development in Barcelona, located near a major business destination and sold in February 2024  
• Hard Rock Hotel Madrid, re-positioned from a former municipal office building near one of the city’s main train stations and sold in 2022 for €65 million 

Founded by ex-Cerberus private equity real estate veteran Goldstein, ActivumSG has raised close to €3 billion in discretionary capital. Including affiliated entities and its advised funds’ portfolio companies, the ActivumSG ecosystem directly and indirectly advises on over €10 billion in real estate and real estate-related investments.