Months of record-breaking tourist numbers have encouraged additional investment in the hotel industry on the Costa del Sol, with 27 companies looking to spend a total of €56 million to improve their establishments over the coming winter months.
The figure was provided by Luis Callejón Suñé, the president of the Association of Hoteliers of the Costa del Sol, who explained that the expansion is planned to take place in low season as the decrease in visitors will allow hotels to close for up to three months to get the works done.
The investment dwarfs last year's figure of €28 million and rounds off a total of €168 million that has been spent over the last three years to improve the province's hotel installations.
Foregin investors to pour millions into luxury hotel projects
The Costa del Sol continues to profit from its reputation as a booming tourist hotspot with the news this week of two multi-million luxury hotels ready to break onto the scene. Qatari group Al Bidda presented its vision for Malaga port on Monday which includes a new 35-floor luxury hotel, complete with shopping area, casino and conference centre. Construction of the fivestar hotel could begin next year, with doors opening to the public in 2020. This came after Hong Kong-based investment fund Platinum Estates announced its intention to build a new luxury hotel complex close to the Real de Zaragoza dunes in Marbella. The project will be carried out in collaboration with the Pro Dunas association to ensure the protection of one of the region's most valuable ecosystems.
Torremolinos is the town which will receive the biggest boost, with the proposed amalgamation of the Riu Belplaya and Riu Costa Lago hotels looking to create a new complex with over 600 rooms. The idea is to create a 'mini-resort,' which will have three restaurants, five bars, three outdoor pools, an indoor pool and a water park.
The president went on to say that after the long financial crisis, during which the Costa del Sol managed to maintain a large portion of its historical tourist numbers, hoteliers are 'doing their homework' and are aware that investments are needed to keep the resort growing at a steady level.