The next phase of the Marina d’Or hotel complex, one of the cornerstones of the tourism industry in Castellón, solves new questions. While it was learned that Fuertes Group, owner of the ElPozo food brand, will hold the shares and manage it by the Benidorm Magic Costa Blanca chain, the amount of the operation has already been determined. According to digital media and various sources referenced, The cost of the operation is around 70 million euros.. That’s far less than the €100 million the US fund Farallon paid at the time. with everything, Grupo Fuertes and Magic Costa Blanca have planned another $20 million investment to condition the facilities. and increase its attractiveness for tourists.
The current owners of Marina d’Or took over the capital of the company in exchange for fulfilling its financial obligations.. Since then, different phases of redevelopment and restructuring of the complex have been undertaken amid an epidemic that has hit the hotel business in a special way.
Fuertes’ claim is similar to the bet prepared by Farallon at the time: to assume ownership and transfer management to third parties. Gestión Activos Turísticos (GAT) was in charge of these tasks from 2020 until December of last year. Now, once trading is closed, Magic will take care of the day-to-day operations of the hotels, spas, theme parks and tourist apartments that make up the accommodation in Marina d’Or. This operator is expected to increase its activities by organizing events and festivals to attract new types of visitors, as it is already doing in Alicante.
Approach
This is how Magic, owned by the García family, comes ashore in Castellón, one of the most important tourism destinations in Benidorm.. As for Fuertes, it has four hotels in Murcia and two in Alicante, managed by the Barceló group since February.
The Marina d’Or sales operation carried out by this newspaper, as in the previous chapter, had Farallon’s determination to get rid of this asset. For this, they took help from Colliers firm, which is dedicated to investment consultancy and management.
Regarding the current state of the Orpesa complex, Antonio Maeso, managing director, said that with the opening of the summer season in June, they managed to cut losses by half by 2022, and entry of new owners will provide “new ideas and business plans”».
It should be noted that this will not be the first joint collaboration between Fuertes Group and Magic Costa Blanca. Actually, They have previous experience in Magic Natura.A resort in the Terra Natura complex in Benidorm.