This sought-after piece of real estate was acquired in 2017 and included the purchase of two first-line from the beach 4-star hotel properties totaling 529 rooms. An adjacent piece of land for a phase two development of the hotel was acquired in early 2018.

The asset is being repositioned as the first Ikos Resort outside of Greece, comprising 411 rooms, 7 restaurants and wellness facilities in beautifully landscaped gardens. The asset is undergoing a significant redevelopment, turning two hotels into one.

Alsotel assisted the financial investor and operating partner to create an international development plan and investment structure, adapting the original product to the different markets. Alsotel led the due diligence and business plan until the Ikos platform was set in Spain. Working permits were obtained in record time and works will finish by mid-2020, when the hotel is expected to open.