DICIEMBRE 2021

Iberostar Group reached a binding agreement with Starwood Capital for the sale of the Iberostar Waves Las Dalias hotel in Tenerife.

Following Starwood Capital's purchase of the hotel, Iberostar Group will continue to manage the property under its brand

Iberostar Group has reached an agreement with a controlled affiliate of Starwood Capital Group, a global private investment firm focused on real estate and energy investments, to sell Iberostar Waves Las Dalias hotel in Tenerife (Spain) to Starwood Capital for an undisclosed sum. Following Starwood Capital's purchase of the hotel, Iberostar Group will continue to manage the property under its brand. Starwood Capital will acquire the Iberostar Waves Las Dalias into Starwood Real Estate Income Trust, Inc. ("SREIT"), a non-listed REIT managed by the firm. The acquisition represents the second European leased hotel investment for SREIT and the first leased hotel investment in Spain.

Reform with sustainability criteria

In line with the Iberostar Group's strategic positioning in terms of responsible tourism, which begins all its hotel construction or refurbishment work by assessing its environmental impact and seeking efficient construction and responsible management of its life cycle, the comprehensive refurbishment of the Iberostar Waves Las Dalias has been carried out by applying ambitious circularity policies. 

 

a group of lawn chairs sitting on top of a building

After a comprehensive refurbishment of its facilities by Iberostar, the hotel reopened in November 2021, resulting in the incorporation of efficient machinery installations guaranteeing the efficient use of natural resources, osmosis sources, more efficient hybrid solar panels that allow generating energy for electrical use, as well as monitoring meters for the optimal behavior of the facilities towards the objective of carbon neutrality.

During the refurbishment project, the treatment of operational waste has also been optimised, resulting in a 24% reduction in the hotel's carbon footprint in line with the Iberostar Group's commitment and its Agenda 2030 to be carbon neutral by 2030.