Spanish REIT Millenium Hospitality Real Estate is developing the 323-room Fairmont La Hacienda located in Sotogrande, in southern Spain's Andalusia region. Accor signed the agreement and the property will be operated by Odyssey Hotel Group when it expects to fully open in 2024. The property will combine hotel guestrooms and residences.
Millenium Hospitality Real Estate's portfolio includes two Nobu hotels in Madrid and San Sebastian, along with the JW Marriott also in Madrid and two Radisson Collection properties in Bilbao and Sevilla.
According to a press release, Fairmont La Hacienda will be one of Spain's "leading luxury resort destinations," and located in La Hacienda, a gated residential and golf development set on 400 hectares of land.
The complex will comprise 323 keys, including 153 hotel guestrooms. In addition, 51 villas with 170 keys will complete property.
Amongst the 51 villas, 36 of them will have a private pool, extensive living room and kitchen and will be sold to third parties with the
Globally, Fairmont has more than 80 hotels.
Xavier Grange, SVP of development for Accor Southern Europe, called the project "a significant step forward in Accor's luxury development in Southern Europe."
"Our ambition is to continue to build a greater collection of luxury hotels, especially resorts, to meet the growing demand for high-end hospitality in the market," he continued.
"We are proud that a globally recognized brand such as Fairmont has signed on to manage one of our properties, especially in one of the top luxury destinations in Spain," said Javier Illán, president and CEO of Millenium Hospitality Real Estate. "I am convinced that the future Fairmont hotel will be a benchmark for luxury in Europe and, without a doubt, one of the assets with the greatest value potential of our portfolio.
Added Rick van Erp, CEO of Odyssey Hotel Group, "We are at the starting line of our expansion in Spain, with Fairmont La Hacienda as second property in this country."
The project is Odyssey's first partnership with Accor and Millenium Hospitality Real Estate.