Date: April 2018
Location: Estepona, Spain
Name: Costa del Sol Princess Hotel, to become Ikos Andalusia – opening May 2020
No. of Keys: 400 rooms and suites, in seven buildings and 70,000 m² of gardens and leisure facilities. It will offer 8 restaurants, a theatre, 4,000 m² of heated swimming pools and a spa.
Seller: Was the Costa del Sol Princess Hotel
Buyer: Ikos Resorts, an all-inclusive luxury chain, headed up by new CEO Luis Herault, with a background career from KSL, PortAventura, Iberostar & PepsiCo.
Ikos Andalusia will become the company’s fifth property, after the forthcoming opening of Ikos Dassia on the island of Corfu (Greece) in May 2018 and Ikos Aria on the island of Kos (Greece) in 2019.
Price: Acquisition & development: €150m
Price per Key: €375,000
THPT Comment: Big move for Ikos from their home base of Greece, to this new hotel in Spain, with what looks like a safe pair of hands with the new CEO.
First Seen: Hospitality-on.com