Covivio Hotels Acquires Iberostar Las Dalias for €81 Million

Covivio Hotels has purchased the 4-star Iberostar Las Dalias hotel in Tenerife from a Starwood Capital affiliate. The acquisition, valued at €81 million, aligns with Covivio’s strategy to expand its presence in the Southern European hotel sector.

Located in Spain's premier tourist destination, the Canary Islands, the hotel benefits from the region’s year-round temperate climate. Positioned on the Adeje coast, a major tourist hub, it has a prime location near Reina Sofia airport. The property includes 429 rooms, multiple dining options, sports facilities, and boasts a Booking.com rating of 8.8/10.

This acquisition marks Covivio's first hotel purchase since 2020, increasing its market exposure. The hotel will be leased to Iberostar until 2041, continuing the tenant's extensive operations across over 35 countries.