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Azora’s New Hotel Fund Finalises its First Acquisition on the Costa Brava

Azora, through its fund Azora European Hotel and Lodging, F.C.R. (Azora EH&L), has acquired the Arenas Resort Giverola (Tossa de Mar, Girona) from the Swiss hotel group Arenas Resorts.

Azora Arenas Resort
Arenas Resort Giverola (Tossa de Mar, Girona).

The facility is a complex of 213 flats, a glamping site, five restaurants and bars, sports facilities, swimming pools, a spa and a large car park. It is located in the municipality of Tossa del Mar, in the northeast of Catalonia and will be managed by Med Playa. The fund plans to invest 40 million euros in carrying out a comprehensive refurbishment and expansion of the existing facilities at both the hotel and the campsite.

The fund plans to carry out a very ambitious refurbishment plan at the hotel, aiming to reposition the asset and achieve a 4-star rating. The refurbishment will be carried out in two phases, which is due to commence in November 2021, when this season ends.

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