Specialist hotel real estate broker, Soric International, told OPP this week that it is “seeking a luxury brand and management deal for the 105-room Mountain Spa Marbella, a proposed luxury mountain resort development in Istan,
Specialist hotel real estate broker, Soric International, told OPP this week that it is “seeking a luxury brand and management deal for the 105-room Mountain Spa Marbella, a proposed luxury mountain resort development in Istan, 15 minutes from the Mediterranean coast.”
The site overlooks Lake Concepcion to the hills of the Sierra Real Natural Park and, says Soric, “a flexible master plan and all essential planning permissions and licences are in place for a proposed four-star plus resort of up to 24,000 square metres. The Málaga regional government planning authority granted planning permission on the site in 2004.”
Soric managing director Mark Blick told OPP that because of the “lack of comparable luxury properties in the area, the Mountain Spa Marbella provides an opportunity to exploit a niche in the market. The site would be particularly well suited to a luxury, boutique brand.”
The 105-room full-service resort will have 64 bedrooms in the main hotel and 41 detached one, two and three-bedroom suites of 140 square metres to 217 square metres, each with its own infinity pool.
There will be a large luxury spa with tiered pool, a number of bars and restaurants and a boat house on Lake Concepcion. Guest activities will include a range of water sports, fishing, cycling, horse riding and walking.
The facts and figures behind the opportunity, according to Soric are an “ADR set at €325 in year one, inflated by 5% in year two and 3% per annum thereafter.” And then “sales and marketing is set at 4% of total revenue and includes any assumed centralised marketing fee from the operator. A base management fee of 3% of total revenue is included. A management incentive fee of 8% of adjusted gross operating profit is also included.”
The area is a 15 minute drive from Marbella and Puerto Banus. The Manolo Santana Racquets Club and many of the Costa del Sol’s premier golf courses are also within easy reach says Soric and Málaga International Airport is 45 minutes away by car.
Soric International specialises in real estate, investment, branding, operational and related advisory services to the mid-scale and luxury hotel sector.
Currently, the company is working in Sardinia, Rome, London, Milan, Paris, Marbella, Madeira, Bucharest, Dubai, Cote d’Azur and Vienna. The company has offices in Paris, London, Milan and Dubai. A new office is expected to open in Dakar in 2012.
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