Iberostar sells the Las Dalias hotel in Costa Adeje to American venture capitalists

The Iberostar group has reached an agreement for the sale of the Las Dalias hotel, a four-star complex with 420 rooms in San Eugenio in Costa Adeje, with Starwood Capital Group, an American venture capital firm.

Following the purchase of the hotel by Starwood, the Iberostar group will continue to manage the property under the Iberostar brand. Starwood Capital has acquired the hotel through the Starwood Real Estate Income Trust, Inc. (SREIT), an unlisted REIT managed by the company.

The acquisition represents the second European hotel rental investment for SREIT, and the first hotel rental investment in Spain.

The hotel has only been open just over a month after a comprehensive refurb, which was carried out prioritizing environmental measures that guarantee the efficient use of natural resources, sources of osmosis, more efficient hybrid solar panels, as well as monitoring metres.