The mayor of Marbella, Jose Bernal, has announced the interest of various investors in transforming a number of four and five star hotels in the area to include them in the already established circuit of luxury establishments.
Speaking to reporters at the International School of Hotel Management, ‘Les Roches’, the mayor added that further investors are looking to renovate hotels that are ”obsolete or currently closed”.
"These are projects aimed at raising hotels to five star deluxe standard because there is an assured clientele," added Bernal who has so far refused to disclose the names of investors "because negotiations are still ongoing”.
Bernal said that "the market" is demanding Marbella luxury hotels aimed at customers with high purchasing power, highlighting one example in Las Chapas where the development cost will be around 300 million euros. The hotel, which is scheduled to open for summer 2019, will feature an integrated beach club and will not be part of a larger hotel chain. “Our job as government is to open the way and facilitate private investments, acting according to what the market demands, and the market demands luxury hotels for customers with high purchasing power," he added.
Marbella certainly continues to be a popular tourist destination and is a great investment opportunity for housebuyers. For information about buying property in Marbella and along the Costa del Sol please contact Siesta Homes on +34 952 90 87 05 or visit our website, siestahomes.com.
