Atom, the Socimi, created in 2018 by Bankinter Investment and GMA and managed by the latter, announces the sale of Hotel Labranda Costa Adeje, a 4-star establishment located in the south of Tenerife, after completing a successful process of acquisition, comprehensive refurbishment and repositioning. This milestone represents a new success story in the company’s asset rotation strategy.
The Hotel Labranda Costa Adeje was acquired at the end of 2019 and underwent a complete transformation that included structural and conceptual improvements, positioning it as a benchmark in the 4* superior segment. During the refurbishment, ATOM worked with the Jalvo studio for the architectural project, Alfaro-Manrique for the interior design and Ingecan for the engineering. The concept, which has received several mentions in specialised international magazines, emphasised its link with the environment and the strength of the Tenerife coastline. The subtropical vegetation of the site is one of the main sources of inspiration; the green colours of the flora blend with the blues and aquamarines of the ocean, in contrast with the tones of the Canary Island soil, with a palette ranging from the blacks and greys of its sands and rocks to the reds and ochres.
The property features 409 spacious suites with terraces, nine A&B outlets, a wellness centre, three swimming pools, a splash park, multi-sports court, outdoor parking and a variety of facilities designed to meet the needs of all guests.
In its new phase, the hotel specialised in two main niches: the family segment and an exclusive area for adults, offering differentiated services for each group. This approach optimised the customer experience, maximising occupancy and the profitability of the asset.
The hotel’s extensive gastronomic offer includes an Italian restaurant (Cucina di Luigi) with live cooking, a tapas restaurant with local products (Tapas Bar), a rooftop outdoor cocktail bar with views of La Gomera (Sunset Champagne Lounge), a pool bar at each pool (family and adult), two indoor night bars (adults only and family next to the stage) and two different buffets for each customer segment (family and adults).
The results of the repositioning speak for themselves:
- Increase in average fare by more than 100%.
- Increased revenues by 94%.
- GOP growth by 125%.
The buyer of the hotel, a family group from the Canary Islands, established for many years in Tenerife, where it owns and successfully operates other assets, some of which are close to the Labranda Costa Adeje, and which brought the negotiations to a successful conclusion after a competitive process in which ATOM, through Bankinter Investment and GMA, received numerous bids, the latter being the successful bidder. Meeting Point Spain facilitated the process at all times, in line with the good relationship between all the companies involved, and especially between ATOM and Meeting Point, with two repositioning projects carried out jointly over five years.
The success of this transaction adds to the consolidated track record of ATOM, Bankinter Investment and GMA in the strategic management of hotel assets, as also demonstrated by the recent success in the transformation, repositioning and sale of the Hotel Costa Mogán.
The sale of Hotel Labranda Costa Adeje reinforces ATOM and GMA Corporate’s ability to identify opportunities, add value and maximise returns in the hotel sector. This achievement underlines the commitment of both entities to excellence and innovation in the management of tourism assets in key destinations such as the Canary Islands.
