The recently renovated Hotel Labranda Costa Mogán opens its doors
GMA has led the renovation of the Hotel Labranda Suites Costa Adeje **** (Adeje, Tenerife), with and investment of € 25.5M with completion estimated for this summer. In addition, the Hotel Labranda Costa Mogán **** (Mogán, Gran Canaria) has been renovated with a budget of € 6.1M; this hotel works having successfully ended last February, it is scheduled to open on June 1st, 2021. Both assets were acquired in December of 2019 by ATOM Hoteles SOCIMI (ATOM), a vehicle managed by GMA and a founding partner with Bankinter.
With both refurbishments, GMA maintains its policy of advancing all investment plans and reform processes during the pandemic, in addition to prioritizing execution with local companies and collaborators, which helps to create jobs and promote economic activity in the destination where the assets are located.
Labranda Costa Mogán, former Riviera Marina, has undergone a comprehensive change in terms of image and aesthetics. The reform project has contemplated a renovation of all its spaces and façade, in addition to including a new Beach-Club located next to the hotel’s solarium and facing the beach, incorporating an area of Balinese hammocks with a shallow pool. This area will also provide services to the users of Playa del Cura, as a complement and aid in the comprehensive renovation of the area that is being carried out by the Mogán City Council with various interventions on the beach and the promenade.
GMA contracted the interior design studio Patricia Galdón for this project, with extensive experience in benchmark renovations such as the Hotel Fergus Club Europa (Mallorca) or the Hotel Antemare (Sitges), both also owned by ATOM. From Patricia Galdón Estudio, for this Project, the guiding idea has been to look for “Sensory interior design through the five senses: taste, smell, touch, hearing and sight”.
“We seek to connect through interior design with the client’s emotions, beyond the aesthetically beautiful. In order to undertake a quality hotel project, you must know the needs of the guests and use empathy. We want to awaken the five senses and sharpen their sensitivity so that our client escapes from his reality, from his routine in the city and achieves his vacation objectives, to experience a small Eden during the stay “
Patricia Galdón uses as the basic concept of her project the integration of nature in architecture, both in the interior spaces and in the gardens, including in the project earth colors with touches of blue and green, tuning the mind to sea and nature.
“We interior designers create spaces, decorators select”.
About Atom Hoteles
It is the top hospitality SOCIMI (REIT) 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 Corporate, and which, to date, after the two capital increases carried out, has attracted almost 800 shareholders.
Its strategy is based on building a portfolio of four- and five-star urban and holiday hotels, in prime destinations and assigned under long-term lease to first-rate national and international operators and independent hoteliers.
Currently, the Atom Hoteles SOCIMI portfolio is made up of 28 assets, totaling 6,626 rooms, with an asset value of more than 700 million euros.
About GMA Corporate
GMA is an independent investor and manager of Real Estate investment vehicles, specialized in real estate assets and projects with a hotel underlying.
In compay’s more than 20 years of experience in the national and international market, GMA has managed its own and third-party investments, taking on different roles depending on the type of vehicle and project. It manages the complete investment cycle, from the opportunity identification, investment vehicle structuring, acquisition of the assets, restructuring, financing, asset and property management, refurbishment, repositioning and divestment.
In recent years, it has participated in more than 400 transactions and hotel projects worth more than €5 billion. Today, GMA manages about 1 billion euros in assets. Its parent is GMA Capital promoter partner with Bankinter of ATOM Hoteles SOCIMI, S.A.
Bankinter is the sixth largest and most profitable Spanish bank in the sector, measured by its profitability on the capital invested. Bankinter Investment, the entity’s Investment Banking area, has launched an important alternative investment platform over the past three years, after launching multiple investment vehicles, with partners-expert managers in diverse sectors such as hotels, renewable energy, student residences, infrastructures, commercial areas and venture capital.
By the end of this year, Bankinter will have managed to raise with these vehicles over 1.8 billion euros of capital from clients of Private Banks and Spanish institutions that, with the effect of leverage, will amount to an investment in assets of around 4 billion euros.