Hesperia Investment Group has reached an agreement with Arum Group to acquire a majority stake of the luxury resort La Manga Club.
The Spanish resort has a total area comprising of 560 hectares with a privileged location in front of the Mar Menor and Mediterranean seas and adjacent to the nature reserve of Calblanque.
La Manga Club is a tourism and residential resort with a wide range of sports facilities which until recently belonged to Inmogolf, a company linked to Arum Group.
Additionally, GIHSA will invest in the improvement of the complex in order to create the best leisure and sports resort in southern Europe.
Arum Group will continue to run the real estate business in La Manga Club through its subsidiary, Inmogolf, with a great development potential due to the touristic appeal of its excellent location.
Jesús Abellán, chief executive of Arum Group, said: “Hesperia is the optimal partner to continue with this expansion project as this deal strengthens not only the resort’s further extension but also the development of the whole area, with a huge potential for residential tourism growth.”
Since its opening in 1972, La Manga Club has gone through different development stages until becoming one of the most renowned leisure and sports resorts in Southern Europe.
With this strategic deal GIHSA boosts its business activity in the premium resort business arena and brings its expansion plan a step further after initiating its new independent business plan at the end of last year.
Jordi Ferrer, chief executive of GIHSA said: “This operation perfectly matches our growth strategy in the hotel market with quality assets that allow us to keep consolidating as a reference in the Spanish hotel industry and, in particular, this acquisition will allow us to create the best resort in south Europe.”