Ciudad Jardín Apartments, 2023
Marina d'Or: the coastal property sector
This acquisition marks a significant milestone in Fuertes’ foray into the coastal property sector. Earlier, in February, the group signed a partnership agreement with the renowned Barceló Group to manage six of its hotels and over 600 rooms. This portfolio included the Arco de San Juan hotel, acquired by Fuertes in April 2022 and scheduled to reopen in 2025, becoming the first five-star hotel in the Murcia region. With this agreement, Barceló consolidates its position as the leading hotel chain in the region, managing hotels under its four brands: Royal Hideaway, Barceló, Occidental and Allegro.
This move by Fuertes in the hotel sector is indicative of a growing trend amongst business groups seeking to invest in coastal properties. The recovery in tourism and the rise in profitability indicators, such as Revenue Per Available Room (RevPAR) and Average Daily Rate (ADR), have attracted investors from a range of industries.
One example of this is Cosentino, a manufacturer of kitchen and home materials, which is taking its first steps into the hotel sector with the Macenas Resort project. This complex, located in Mojácar (Almería), was acquired from Sareb and will be transformed into a sustainable residential development featuring a hotel, a spa, a social club, a golf course and residential developments. The estimated investment stands at 200 million euros, creating 180 direct jobs and 320 indirect jobs, thereby contributing to the revitalisation of a run-down area along the coast.
Fuertes’ expansion into the coastal property sector demonstrates the growing importance of this market and its appeal to investors from various sectors. The acquisition of Marina d'Or and the partnership with Barceló represent significant steps in Fuertes’ growth strategy within the hospitality sector.
Fuertes’ strategic moves in the coastal property sector not only underline its commitment to diversifying its portfolio, but also highlight the growing appeal of coastal real estate to investors from different industries. The acquisition of Marina d'Or, situated in the picturesque Oropesa del Mar, and the subsequent partnership with the prestigious Barceló Group exemplify Fuertes’ recognition of the potential within the hotel sector, particularly in coastal regions renowned for their tourist appeal.
The acquisition of Marina d'Or, valued at approximately 70 million euros, is in line with Fuertes’ broader vision of capitalising on the resurgence of the tourism industry, particularly in popular coastal destinations. This landmark transaction is currently under scrutiny by the National Commission for Markets and Competition (CNMC), underscoring the importance of this strategic move within the regulatory landscape.
Furthermore, Fuertes’ partnership with the Barceló Group, which involves the management of six hotels and over 600 rooms, consolidates its position in the competitive hotel industry. The inclusion of the Arco de San Juan hotel in this portfolio – which is set to become the first five-star hotel in the Murcia region when it reopens in 2025 – adds another dimension to Fuertes’ diversification strategy.
The wider trend of diversified companies entering the hotel sector, as seen with Cosentino’s involvement in the Macenas Resort project, reflects recognition of the sector’s potential for substantial returns. With an estimated investment of 200 million euros and the creation of numerous jobs, such projects not only contribute to local economic development but also highlight the transformative impact of strategic investments in coastal properties.
Fuertes’ expansion into this thriving market signals a well-calibrated response to the evolving dynamics of the property and hospitality sectors, positioning the conglomerate for continued growth and success in the years to come.