ATOM Hoteles has sold the Hotel Labranda Costa Adeje in southern Tenerife to a Canarian family group for €110 million.
Built in 1985 and acquired by ATOM in 2019 for around $74.3 million, the 409-key hotel underwent an extensive renovation and repositioning into a 4-star hotel.
In addition to its 409 suites with terraces, the property features nine F&B outlets – including four restaurants, a rooftop cocktail lounge and two bars - a wellness centre, three swimming pools and a multi-sports court.
The hotel was acquired by a Canarian family group in Tenerife, which owns and operates other properties, some near the Labranda Costa Adeje. The negotiations were concluded following a competitive process in which ATOM, through Bankinter Investment and Global Myner Advisors, received numerous offers. The process was facilitated by Meeting Point Spain.
Founded by Bankinter and Global Myner Advisors Capital Invest in 2018, ATOM’s portfolio comprises 22 assets with an estimated property value of $610 million.