One of most iconic, and more recently problematic, apartment complexes in the south of Tenerife, the Alborada in Ten-Bel next to Las Galletas, is having a comprehensive 15 million euro renovation and will re-open its doors to guests at the end of the year with a new look.
The investment is being made by an American fund with offices in New York and Miami, who bought 282 of the apartments on the complex (58%), the reception, exploitation rights, and facilities, while the remaining 196 apartments are still owned privately.
According to executives of the company that now owns it, who visited the island on Wednesday, this is the first acquisition of this type for the group, who own several hotels in Greece, but won’t be the last.
"We are a very dynamic group, with many lines of business and we are always looking for opportunities that benefit, not only our companies, but also the community," said María Correa, the company's director.
Almost 100 apartments are almost completed by the construction companies carrying out the work, and the forecasts for the new property point to the completion of the works in November, so they can start receiving clients before the end of the year.
Work is being done so that the aparthotel gets a four star rating, instead of three as it is now, so it must meet the requirements of the Canary Islands Government.
As architect and project manager, Javier Álvarez, explained, there is not only a comprehensive renovation of the apartments taking place with the replacement of furniture and a change of image, but also the plumbing, and electrical systems will be replaced with increased fire protection.
In addition, the surround of the La Ballena pool and its solarium will be replaced with better material in a sandy color, to generate a sense of continuity as if it were a beach. The comprehensive renovation will also extend to the snack bar floor and the rest of the public spaces.
María Correa justified the investment, saying, "This is a property that has immense potential and that is why we are putting all our efforts into it with one goal: for Alborada to recover its splendour and return to being a place that everyone wants to come to on holiday. The pool will be the jewel in the crown for the complex as it is the largest seawater pool in Europe."
Regarding the staff who went so far as to go on strike with the previous owner due to delays in getting paid, Correa emphasized that "things have improved a lot" explaining that, although some of them are on ERTE after the fire in the old La Ballena building in January, assured that they are "excited and hopeful that the complex will regain its former glory."
She concluded by saying that the CEO of the company that now owns Alborada, came to Tenerife with low expectations until he "fell in love" with the building and its facilities. Initially, the renovations were budgeted at 10 million euros, but will be 15 million, and added that the relationship with the owners of the other 42% apartments is getting better.
“They realise this a ‘win-win’ and that is the spirit of the agreements we are reaching with them." Finally, regarding the name, it is not yet known if Alborada will be maintained, or if it will be changed to start again with a clean slate.
