Labranda Costa Adeje: Full Renovation
GMA together with Meeting Point have carried out the renovation of the Hotel Labranda Suites Costa Adeje **** (Adeje, Tenerife), following the investment commitment of 32 million euros signed between Meeting Point and Atom Hoteles SOCIMI. Despite all restrictions, the work is progressing at the right pace and the opening is scheduled for this summer. This asset, together with another in Gran Canaria, was acquired in December 2019 by ATOM Hoteles SOCIMI (ATOM), an investment vehicle managed by GMA and in which it is a founding partner with Bankinter.
With both refurbishments, GMA maintains its policy, set during the pandemic, of moving forward all investment plans and reform processes, in addition to prioritizing execution with local companies and collaborators, helping to create employment and promote economic activity in the destination where the properties are located. “In the reform of this hotel we have more than 300 people working daily, in addition to other companies and indirect subcontractors and suppliers, which is a pride at this time, to be able to contribute to the recovery of the local economy, showcasing the important part played by investors and especially SOCIMIs ”, declared Alvaro García Liñán, Property Manager of the project.
Labranda Costa Adeje, is located on Avenida Bruxelles, in Costa Adeje, “the golden mile” and a tourist reference, where the best hotels in this destination are located, 4-star superior, 5-star and 5 Grand Luxury.
The hotel has undergone a comprehensive change in terms of its image, product and services. Aesthetically, the reform project has contemplated a renovation of all its interior, exterior and façade spaces. The complex is made up of different buildings, which make up two totally independent areas: for families, and for adults only. Each of these areas has its corresponding swimming pools and independent restaurants, in addition to specific uses for each type of guest, such as Health & Wellness, night bar or others for adults only; and kids club, virtual games and others in the family area.
Regarding the new offer and services, the hotel has incorporated 11 dining options, such as a new Roof-top Bar on the deck with sea views, two pool bars in the solarium for families and adults, a bar located in the garden central tropical, a lobby-bar at the reception as waiting area with welcome drinks for guests, two specific themed restaurants such as the Tapas Bar and the Italian Restaurant, and two night bars such as the cocktail bar for adults and the night bar with animation for families, and not forgetting the 2 main buffets for adults and families. For all these spaces, new concepts and services have been developed that add value to the offer of the different areas.
Regarding the leisure offer, it includes a new pool area with a larger solarium area, a splash pool with water games and a multisport court, thus expanding the family offer, and achieving a total of 5 completely renovated swimming pools throughout the complex, highlighting the new Bali Hai located in the adult area. This last relaxation area for adults has a gym as well as massage rooms, focusing services on rest and well-being.
Commercially, external operators are being selected, with brands and concepts that add value and service to the management of some of these areas.
GMA entrusted this special project to the Alfaro Manrique Atelier Interior Design studio, with extensive experience in landmark hotel renovations such as the Double Tree by Hilton Hotel in Barcelona or the One Shot Tabakalera House Hotel in Donosti.
The botanical and sophisticated border between the land and the Canarian ocean.
The design and concept created for the Hotel Labranda Suites Costa Adeje is a project that is committed to highlighting its tropical atmosphere, its link with the privileged enclave and the strength of the Tenerife coast. The vegetation of Tenerife is a key inspiration in the design; the green colors of the flora are blurred with the blues and aquamarine of the ocean, in contrast to the colors of the Canary land, with the island’s breathtaking interiors, with tones that go from the black and gray of its sands and rocks to earth and ocher.
“We use a design linked to nature, to the Canarian landscape, to its chromatic range, to the strength and scale of the natural environment to generate a concept of boundary between land and ocean, which accompanies us in an essential way from outside the hotel , putting it in value, and enhancing its landscaping, but with two specialized worlds that are the adult hotel and the family hotel with slight nuances between them, one more linked to the ocean, another more to the interior of Tenerife ”, according to Gema Alfaro, from the Alfaro-Manrique Atelier Studio.
Introducing the exterior with all its interior vegetation, and blurring the boundaries between landscape and architecture is something that is evident in the public areas and especially in the central space of the large open, tropical meeting and reception area. With the presence of the same dark Canarian basalt present on the façade, these public spaces present a geometrization of natural forms giving them a sophisticated and elegant aesthetic, using local woods, the aforementioned basalts, artisan ceramics, fibers and vegetable tapestries, all focused on achieving the evocative atmosphere.
With the interior design, the extensive surface of ceilings that reinterprets vernacular interiors imbued with nature, textiles with formal resources linked to local history, handmade ceramics that give a look of authenticity throughout, all without falling into banal folk lore .
The hotel has numerous meeting and restaurant environments, with their adjoining outdoor areas, all with their own personality, but continuing with that common botanical environment, with that vegetation and those colors and geometries that ceramics give us.
Regarding the rooms, all of them are suites and in tune with the outdoors thanks to their terraces with vegetation, and in which the serene, relaxed and comfortable atmosphere that the wood gives together with the linen-type coatings, combines with the natural fiber lamps, and the traditional ceramics present in the bathroom and headboards, achieving the sought after Canarian tropical atmosphere.
As we look out onto the balconies of each of the rooms, we are again shown characteristic images of the Canarian landscape, seeking to recreate in its pools that fascinating boundary between land and ocean represented by natural pools.
In short, the Hotel Costa Adeje Suites, approaches the place, its overflowing nature and great identity, to use its presence as gestures of design, imagination and comfort.
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.