Spanish firm spends €105 million on two Canary Island hotels

SPAIN’S property firm Hispania has bought two hotels on Fuerteventura in the Canary Islands for €105 million.

The firm has purchased five-star Gran Hotel Atlantis, 382-room Suite Hotel Atlantis.

“These two acquisitions give new impetus to Hispania, and help to strengthen its presence in the Canary Islands, a key market in the holiday company strategy,” said the company in a statement.

The €105 million acquisition represents a an 8.5% increase in annual investment for Hispania.