The historic Sol Fuenteventura Jandía re-opens after a full renovation

The historic Sol Fuenteventura Jandía re-opens after a full renovation
27 May, 2021 Atom News

ATOM Hoteles SOCIMI (ATOM), through GMA team, and Meliá Hotels International (MHI) have finalised the full refurbishment of the 4 star resort Hotel Sol Fuerteventura Jandía, with 294 rooms. A €15,6 million capital injection over the past year has resulted in the renovation of all accommodation units, converting each apartment into a suite concept, with living room or family room. The resort opening is planned for June 2021.

The asset was purchased from MHI by Atom Hoteles, following the company’s set strategy, with Melià in charge of the management of a portfolio of 6 hotels located in Canary Islands, Balearic Islands and Spain´s mainland.

The handover of the fully renovated hotel follows the strategic plan approved by the Atom Hoteles council whereby all CapEx plans and project have been moved forward in order to take advantage of the company’s hotel forced closures due to the pandemic. In addition, Atom Hoteles has made it a priority to contract local companies for the projects and regional partners, strongly aiding job creation and promoting economic activity in the areas qhere the hotels are located.

Hotel Sol Fuerteventura Jandía has undergone a full remodeling, including a category upgrade from 3 to 4 stars. The 294 rooms have been updated, as have been the public areas, restaurants and leisure zones, as well as the lobby, arrival hall and façade. The resort now boasts a sleek and contemporary look.

The project has followed the Sol brand standards, as well as the environmental criteria for which Melia is world renown.

In the exterior, the solárium has been fully renovated as have the pools, including a heated pool for the Winter, a new pool bar, as well as a rooftop sundeck with stunning sea views and modern decor and style.

The new Restaurant located in the “jameo” has maintained the resort’s iconic patio essence, that, together with the canarian organic gardens retain Cesar Manrique`s original reference.

The hotel has adapted to the new handicap access norms, with the development of a network of arquitectonic passages and elevators, that add to the contemporary design and look of the complex, help ease the flow and use of these areas by the guests, without losing the original organic essence of this historic hotel.

 

About ATOM Hotels

It is the first SOCIMI that owns hotels in Spain, an alternative investment vehicle specialized in the hotel sector, promoted by Bankinter in January 2018 together with the real estate asset manager GMA, and which, to date, after the two extensions of capital made, has attracted nearly 800 shareholders.

Its strategy has been based on building a portfolio of four- and five-star urban and holiday hotels, in priority destinations and transferred under long-term lease to first-rate national and international operators and independent hoteliers.

At present, ATOM’s portfolio is made up of 28 establishments, totaling 6,626 rooms, with an asset value of more than 660 million euros.

About GMA

He is an independent investor and manager of real estate investment vehicles, specialized in real estate assets and projects with a hotel underlying.

In his more than 20 years of experience in the national and international market, he has managed his own investments and those of third parties, assuming different roles depending on the type of vehicle, from pure management to the figure of investor-manager.

In recent years, the team has participated in more than 400 operations and participated in hotel projects worth more than 5,000 million. Today, it manages around € 1 billion in assets. Its parent is GMA Capital, a promoter partner together with Bankinter of ATOM.

About Bankinter

It is the sixth Spanish bank by size, the one with the highest profitability among the main entities in the market and one of the most solid in the Spanish financial system. Bankinter Investment, the entity’s Investment Banking area, has promoted in the last five years an important alternative investment platform, after launching 15 investment vehicles, in the hands of partner-managers who are experts in sectors as diverse as hotels, renewable energies, student residences, infrastructures, commercial surfaces and venture capital. Bankinter has managed to attract with these vehicles a committed capital of 3,000 million euros from Private Banking and institutional clients of the bank, which has made it a benchmark for alternative investment in the Spanish market. Bankinter Investment has a portfolio of assets under management of more than 5,000 million euros, including project financing.