Details about the acquisition of the Marina d’Or holiday complex in Castellón are gradually becoming clearer. The Fuertes Group, owner of El Pozo and Cefusa, will provide the capital, while Magic Costa Blanca, a Benidorm-based hotel chain, will assume management. Reports indicate that both companies have a history of working together, pointing to a coordinated approach to this strategic move. (industry update)
Earlier this week, it was updated that Farallon, a United States investment fund, agreed to sell Marina d’Or, transferring ownership to the Magic Costa Blanca group. The capital contribution from the Fuertes Group remains undisclosed, and the sale price has not been publicly disclosed either. It is noted that Farallon previously acquired and capitalized the Orpesa complex by injecting substantial financing several years ago, a move that restructured the property’s debt profile. (market brief)
The arrangement will place the management of Marina d’Or under Magic Costa Blanca. The management team plans to broaden the resort’s appeal by exporting their established business model to diversify the hotel and real estate offerings within the complex. This includes expanding the lineup of entertainment and events, with shows and concerts envisioned to heighten the destination’s appeal to tourists. (industry analysis)
Fuertes Group and Magic Costa Blanca bring a track record of collaboration, including joint efforts to promote Magic Natura located within the Terra Natura complex in Benidorm. This history of cooperation signals a cohesive strategy aimed at leveraging cross-brand strengths to boost the Marina d’Or project and create a more integrated leisure and hospitality experience for visitors. (regional business overview)