Colliers has described the acquisition of the iconic Mare Nostrum Resort in Tenerife by Spanish hotel chain Spring Hotels Group for 430 million euros as historic, making the deal the largest unit in Spanish history. The off-market deal, brokered by international consultancy Colliers, significantly strengthens the Canary Islands’ position on the European hospitality investment map.
Triple hotel unit with a historical footprint
The Mare Nostrum Resort is located in the tourist “heart” of Tenerife, in the Playa de las Am?ricas area, and consists of three separate hotel units:
Mediterranean Palace with 536 rooms
Cleopatra Palace with 431 rooms
Sir Anthony Hotel, a luxury unit with 70 rooms
In total, the complex has 1,037 rooms, as well as a multitude of infrastructures such as a beach club, restaurants and bars, as well as important event venues — with the Pir?mide de Arona, a conference and theater center with a capacity of 3,000 people, as a prime example. The same complex also hosts the Hard Rock Caf? Tenerife.
The agreement values ??the property at approximately 414,700 euros per room, a price particularly high by European standards for resort-style units.
From Canadian giant Brookfield to Spring Hotels
Mare Nostrum was previously owned by Brookfield Asset Management, the Canadian investment management giant, which acquired the resort in 2021 as part of a broader deal worth €440 million, with the acquisition of the Selenta Group portfolio. The then deal included four hotels with a total of 2,237 rooms in locations such as Barcelona and Marbella, and also involved Selenta’s operating company — something that significantly differentiates the context and nature of the new agreement.
Since 2021, Brookfield has invested approximately €60 million in the renovation of the Mediterranean Palace and Sir Anthony, while the renovation of the Cleopatra Palace remains pending — a fact that also indicates Spring Hotels’ future investment intentions.
Spring Hotels and the strategic consolidation in Tenerife
Prior to the acquisition, Spring Hotels already had three hotels in Tenerife:
the Arona Gran Hotel (391 rooms),
the Spring Hotel Vulcano (371 rooms) and
the Spring Hotel Bit?cora (314 rooms).
With the addition of Mare Nostrum, it doubles the size of its portfolio, significantly strengthening its position in the Tenerife market and expanding its potential as a local force in the tourism sector.
Significant boost to hospitality investment
According to Colliers, this transaction marks a record of investment activity in Spain, with the total transaction volume in the first half of 2025 already up 10% compared to the same period in 2024. The Canary Islands contribute an impressive 40% to the total investment, reflecting the continued rise in interest in destinations outside mainland Spain.
Gonzalo Guti?rrez, Managing Director of Colliers Spain, notes that the deal is a milestone for the region:
“The Canary Islands are a market with extremely stable demand and high profitability. For years, they have been undervalued compared to other Mediterranean destinations, but this deal highlights their true potential.”
Furthermore, he stressed that the acquisition by a local hotel chain such as Spring Hotels, and not by an international group or investment fund, proves that there is now the financial and operational maturity within the Spanish market to implement deals of this size.
A “success story” for Brookfield
From Brookfield’s perspective, the sale of Mare Nostrum comes as the culmination of a particularly successful investment: the purchase was made in the midst of a pandemic, at low valuations, and was accompanied by an aggressive CapEx program. The subsequent recovery of tourism and Tenerife’s long-term good performance helped to multiply the return on the investment.
