The next phase of the Marina d’Or hotel complex, a core pillar of Castellón’s tourism scene, answers new questions about ownership and strategy. Reports indicate that Fuertes Group, the owner of ElPozo foods, will hold shares and oversee operations through the Benidorm based Magic Costa Blanca chain. The deal value has been pegged around 70 million euros, appreciably below the 100 million euros paid by the US fund Farallon in a prior transaction. Following the acquisition, Fuertes and Magic Costa Blanca plan an additional investment of about 20 million euros to upgrade facilities and boost tourist appeal.
The current Marina d’Or owners stepped in to recapitalize the company, taking on its financial obligations in exchange for equity. Since then, the complex has undergone multiple redevelopment and restructuring phases, conducted in the midst of a hotel sector still feeling the impact of the pandemic and related restrictions.
Fuertes’ approach mirrors a strategy previously pursued by Farallon: acquire ownership and delegate day-to-day management to specialized operators. Gestión Activos Turísticos managed the property from 2020 until December of last year. With the closing of the trading period, Magic Costa Blanca will assume daily operations of the hotels, spas, theme parks, and tourist apartments that make up Marina d’Or. The operator plans to expand its schedule by hosting events and festivals designed to attract new visitor segments, expanding beyond its current activities in Alicante.
Approach
The coastlines of Castellón welcome Magic Costa Blanca, a company owned by the García family, as it enters one of the region’s most important tourism destinations. Fuertes Group counts four hotels in Murcia and two in Alicante, both managed by the Barceló group since February. The Marina d’Or transaction, reported by this newspaper, echoes Farallon’s early objective to divest from the asset, with Colliers acting as investment advisory and management partner for the deal.
Magic will export its business model with events and shows at the Marina d’Or
Regarding the current state of the Orpesa complex, Antonio Maeso, the managing director, noted that the June summer opening helped reduce losses by half compared with 2022, and that new ownership will bring fresh ideas and business plans that aim to improve the entire guest experience. This will not be a first collaboration between Fuertes Group and Magic Costa Blanca. They previously partnered at Magic Natura, a resort within the Terra Natura complex in Benidorm, leveraging cross-brand experiences to diversify offerings and attract broader audiences.