Selenta Group sells Mare Nostrum resort in Tenerife for €430m

Selenta Group, owned by a Brookfield Asset Management fund, has sold the iconic Mare Nostrum Resort in Tenerife to Spring Hotels for €430 mln, marking the largest transaction of its kind in Spain and Portugal.

Mare Nostrum resort in Tenerife

In under two years, Selenta invested over €56 mln in a comprehensive refurbishment, rebranding, and revenue optimization strategy. 
The fully renovated Mediterranean Palace 5*, with a capacity of 1,072 guests, serves as the resort's flagship, Cleopatra Palace 4* provides Mediterranean-inspired elegance for couples and families, while Sir Anthony 5*, with 70 rooms, delivers a luxury experience with privacy and personalized service. The sale also includes the resort's renowned fine dining restaurants – Coal, Diabolo, and The Pier.
Selenta Group CEO Albert Tomàs said: "The disposal of the Mare Nostrum Resort once again demonstrates the capacity of the Selenta Group to carry out high-quality total hotel transformation and repositioning projects, with success assured. Thanks to the support and confidence of our shareholder, Brookfield, we drew up and executed an ambitious investment and repositioning plan that has made the resort much more competitive."
Alberto Nin, managing director of Brookfield Real Estate, commented: "The project to reposition Mare Nostrum has been a resounding success. Selenta has very efficiently carried out the transformation of the resort and optimised its operating model to achieve RevPAR growth of 91% over the last 12 months. We are also confident that Spring, as the local operator, will provide the continuity and robustness required to consolidate this great project."
Since Brookfield's initial investment in 2021, Selenta Group has invested approximately €200 mln in repositioning its assets. This has involved strategic partnerships with major hospitality brands like Marriott, Hyatt, Hard Rock, and Nikki Beach. In 2025, Selenta Group is expanding its focus beyond Brookfield's portfolio to include assets from other investors. Currently, the group is working on projects on the Costa del Sol, with the Hotel Don Carlos Marbella 5* reopening in July after extensive refurbishment, alongside the fully renovated Marriott Princesa Plaza in Madrid.
Selenta (Brookfield) was advised by Perez Llorca, Eastdil Secured and JLL.