Spring Hotels doubles with Brookfield deal

SPAIN – The Canary Islands’ Spring Hotels has acquired from Brookfield the Mare Nostrum Resort in Tenerife for €430 million. This deal for three hotels and more than 1,000 rooms, as well as the existing managing company Selenta Group, doubles Spring Hotels portfolio and more firmly establishes it in southern Tenerife.

Brookfield acquired these hotels, along with one other already sold and another still retained, in early 2021 from Catalan businessman Jordi Mestre for a reported €440 million.

Spring Hotels’ acquisition includes a dedicated MICE center, and a variety of food and beverage venues, including a Hard Rock Cafe and Palapa Beach Club. The Mare Nostrum Resort recently underwent a €56 million renovation led by Selenta Group.

Located in the municipality of Arona, where Spring Hotels already operates three properties, the acquisition includes:

• Sir Anthony, a luxury boutique hotel with 70 rooms, many with private terraces and ocean views, 
• Cleopatra Palace, a 4-star property with 431 rooms, famed for its Roman architecture
• Arona Mediterranean Palace, a 4-star, 391-room family-friendly resort

This deal is backed by CaixaBank, which provided financing through a sustainable loan, with legal counsel from Cuatrecasas. Spring Hotels was advised by AZ Capital as financial advisor, while KPMG conducted legal, tax, financial, and labor due diligence through its Deal Advisory and Legal teams. Colliers also played a role in brokering the transaction.

Headquartered in Arona, Tenerife, Spring Hotels management team is already deeply rooted in the island. Founded in 1985, it now owns and operates six hotels in Tenerife, as well as a dedicated MICE center, and a collection of food and beverage venues. With over 2,300 beds under management, it has a team of more than 1,000 employees.

“For us, this is more than a hotel expansion, it’s a proud repositioning of this iconic resort into local hands,” said Spring Hotels CEO Miguel Villarroya. “It’s a bold commitment to quality, a wider product range, and to Tenerife itself. This operation reflects the group’s strength and sustained growth over the past decade. It’s a strategic step that reinforces our position as a sector leader while expanding our offering by complementing our 4-star portfolio with high-end tourism products. This highlights our ability to invest and manage locally. With over 40 years of presence in Tenerife and the Canary Islands, we reaffirm our long-term commitment to the region, with a continued focus on responsible tourism and sustainable development.”

Villarroya added, “This is a huge step forward, but one taken with humility, pride, and a clear vision for our island’s future. Spring Hotels is Tenerife, and we’re just getting started.”

Spring Hotels Chief Sales Officer Joanne Robinson added that this acquisition gives it greater leverage with key tour operators, suppliers and travel partners and reinforces its long-standing commitment to the U.K. and Irish markets, where Tenerife remains a top-performing destination.

“The acquisition isn’t just about numbers, it’s a forward-thinking investment,” Robinson said. “Spring Hotels, with strong partnerships already established with TUI, Jet2, and easyJet, and a newly formed dedicated trade team all ABTA trained, is fully committed to simplifying agent bookings, maximizing visibility across all sales channels, and making life easier for our valued trade partners.”