Property News

Benidorm hotels changing hands

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FIVE well known hotels in Benidorm are among the seven that have been acquired by Azora, a real estate management company that specialises in four and five star hotels. The Flamingo Oasis, Rio Park, Riudor, Regente and Agis join two Costa del Sol hotels and will all be upgraded to a minimum 4* standard where required. Azora said that Benidorm’s 84% occupancy rate, equating to 11 million overnight stays last year, makes it one of the key tourist destinations in the whole of Europe. Their new properties have a total of 1,670 rooms between them and the firm is expecting to spend around 30 million euros upgrading the hotels.

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