Arcano Partners acquires three hotels in Tenerife: advisors

Arcano Partners’ asset management division has acquired three four-star hotels in Tenerife through its fund Arcano Spanish Value Added Real Estate (AVA III). Together, the three properties comprise 1,050 rooms. The hotels were acquired from a Hyatt subsidiary and will continue to be operated by Hyatt under long-term management agreements and the Alua Hotels & Resorts brand.

In this operation, Arcano Partners was advised by Chevez Ruiz Zamarripa (legal and tax), Christie & Co (hotel), Lesayra (financial) and Sagardoy (labour). Hyatt, for its part, was advised by Colliers, Pérez-Llorca and EY teams in Barcelona and New York.

The acquired assets are Alua Atlántico Golf Resort (Golf del Sur, San Miguel de Abona), Alua Tenerife (Puerto de la Cruz) and AluaSoul Orotava Valley (Puerto de la Cruz). AVA III has defined an investment strategy focused on upgrading facilities and services at these hotels over the coming years, with the aim of optimising their positioning in the leisure market and enhancing the guest experience. In addition to the capital allocated for the acquisition of the assets, Arcano Partners will also make a significant investment in their repositioning, states the fund.

Advisors

On Chevez Ruiz Zamarripa‘s side, the transaction was led by Paula Hernandez, partner and head of real estate at the firm, together with Guillermo Bueno, partner in corporate/M&A, and Miguel Bastida Peydro, tax partner. They were supported by senior associates Javier Rabena Camuñas (real estate), María Vallejo (corporate/M&A) and Paloma Aurrecoechea Bereincua (tax).

Pérez-Llorca’s team was composed of partner Alejandro Osma and lawyers Patricia Alonso-Lamberti, Gumersindo Manuel Clemente, and Eduardo Castilla, from corporate M&A and the real estate departments, as well as of Clara Carazo and María Rodrigo, land planning lawyers.

Pictured, Paula Hernandez and Alejandro Osma.