Azora buys all five Med Playa hotels in Benidorm

Breaking News - The Med Playa group has sold its five hotels located in Benidorm to Azora these hotels are - The Regente, Rio Park, Flamingo Oasis and the Agir, the sale also includes two other hotels in Torremolinos (Hotel Pex Espada)and Benalmádena (Hotel Riviera) This agreement includes that the selling company (MedPlaya) will continue to manage the hotels for the next 35 years: Holidays already booked at these hotels will not be affected.

Both parties said in a statement that the real estate investment company will carry out the reform and repositioning of these seven hotels, mainly hotels of 4-star category, for a total of 30 million euros.

The seven hotels bought by Azora have a total of 1,670 rooms. The real estate investment company has highlighted that, with this operation, it is betting on two of the most consolidated tourist destinations in Spain, Benidorm and the Costa del Sol.

Azora, who manage more than 13,000 rooms through Hispania, believes that the hotel sector continues to offer "numerous opportunities" for investment to generate value through repositioning and active management.

Therefore, the firm is in the process of creating a new fund destined to invest in holiday hotels in the Mediterranean and in hostels in the main European tourist cities.

"This operation shows the firm decision of Azora to continue investing in the hotel sector, especially when we can go hand in hand with a hotel operator with more than 50 years of experience such as Med Playa", highlighted Concha Osácar, founder member of Azora

For his part, the president of Med Beach, Agustí Codina, stressed that this agreement allows them to continue growing in Spain and strengthen its position as a specialized hotel management agency.

Original story by -  written in Spanish and translated to English so some information my be lost in translation


0 # Susan Robinson 2019-05-12 03:11
Does the Azora buyout from MedPlaya in Benidorm mean the hotel running will remain the same. Have the all inclusive and same menu? Also, will the Azora group allow other tour operators like Jet2 to open up to guests rather than just Thomson (Tui) .
Will this company now allow more than couples into the Flamingo Oasis club rooms? At the moment we take our adult son with us yo the Flamingo Oasis but not allowed to use the club rooms because TUI won’t allow 3 adults in a room or allow single guests.

Thank you
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0 # Clive E 2019-05-19 19:39
I stayed at the Medplaya Regente for 7 nights in December 2018 and booked with Jet2.
You do not have to go through a travel agent anyway.You can book your own flights and book a room directly on the hotel's website.Then you need to book travel from the airport to the hotel by shuttle bus.
I have done it often
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0 # John Pennington 2019-05-22 16:51
Does the regente allow stag and hen parties
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0 # Tracy Ann 2019-05-22 21:32
When booking more than 4 rooms, different policies and additional supplements may apply.
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0 # Tracy Ann 2019-05-12 03:29
Yes it should do as stated "This agreement includes that the selling company (MedPlaya) will continue to manage the hotels for the next 35 years: Holidays already booked at these hotels will not be affected."

Obviously we do not know what changes will be made at this time, if any.
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