The real estate and hotel sector continues to show dynamism with various operations and strategic moves within the Flexible Accommodation sector.
Ten Brinke and Medan promote Flexible Accommodation in Madrid
The developer Ten Brinke is continuing its expansion in the alternative residential segment with a new project of Flexible Accommodation in Madrid. In a turnkey operation closed with the investor Medan, an asset will be developed in the municipality of Fuenlabrada. This project already has a building permit and is scheduled to start construction in April 2025. It is expected to consist of approximately 300 units of new-build accommodation of different typologies and sizes. The future residents will enjoy a wide range of amenities such as swimming pool, gymnasium, fitness coworking y rooftopThe aim is to guarantee comfort and well-being.
This collaboration marks the second transaction between Ten Brinke and Medan, following the successful experience of a residential building delivered in Valdemoro in 2023 and managed by Nuva Living. Medan's confidence in Ten Brinke underlines the company's strong track record in developing high quality residential projects. The project in Fuenlabrada will meet the criteria of Breeam very goodreflecting the commitment of both companies to sustainability and energy efficiency, with a commitment to the construction of sustainable buildings that respect the environment. Jörg Tiggemann, CEO of Ten Brinke Spain & Portugal, highlights that this operation consolidates its position as a benchmark in alternative residential development and ratifies its commitment to innovative and sustainable housing solutions.
Elaia Investment Spain sells holiday flats in Mallorca
In another move within the sector, Elaia Investment Spain Socimi has sold the Surfing Playa tourist flats in Santa Ponsa, Mallorca. This complex, located in the southwest of the island, consists of 74 flats and has a surface area of 2,916 square metres. The sale represents approximately 16.4% of the total value of the company's assets, around 7.3 million euros. With the proceeds, a mortgage loan of more than 2.4 million euros encumbering the property has been repaid.
Following this transaction, the portfolio of Elaia Investment Spain, which belongs to the Luxembourg group Batipart, now consists of the El Puerto hotel in Fuengirola (Málaga) and the Festa tourist flats in Estartit (Gerona). This is the second sale in less than a month, as at the end of the previous month the company sold the Cecilia tourist flats in Porto Colom, Mallorca, a complex of 115 flats with a surface area of 5,037 square metres operated by Pierre & Vacances.
Lighthouse acquires The Hotels Network to boost direct sales in hotels
In the hotel technology space, market intelligence platform Lighthouse has acquired The Hotels Network (THN), a personalisation marketing technology company that helps hotels drive direct sales. Terms of the deal have not been disclosed. The acquisition will enable Lighthouse to offer marketing technology services alongside its existing business intelligence platform.
According to Sean Fitzpatrick, CEO of Lighthouse, THN has developed exceptional technology to drive direct bookings through personalised marketing and conversion optimisation. The integration of THN's marketing capabilities with Lighthouse's demand and pricing data will enable hotels to transform market intelligence into personalised booking experiences that increase revenue through direct channels. Founded in Spain in 2015, THN works with more than 20,000 hotels, achieving an average 32% increase in direct bookings for its partners. Juanjo Rodriguez, founder and CEO of THN, says that joining Lighthouse accelerates its mission to help hotels maximise their direct channel potential, and that its combined AI and business intelligence capabilities will give hoteliers a powerful advantage to improve their direct booking strategies and capture more revenue.
