June 5, 2014 Mansion Design


The investment fund Magna Invest acquires Hotel Don Miguel in Marbella

A group of equity investors purchased the Don Miguel de Marbella hotel , closed since 2004 , with the intention of carrying out a comprehensive reform of its facilities and to continue to maintain its hotel use .

As reported in separate statements the company has acquired the hotel and CCOO, the purchase of the hotel Don Miguel involves the regularization of the 81 workers pending settlement payments .

The hotel was purchased by Magna Invest Foundation, through its Spanish society Magna Hotels & Resorts , which plans to create 500 direct jobs and a large number of indirect jobs in the remodeling and refurbishment of the property , which will to have a five star luxury .

The renovation and equipment of the hotel, which is mainly responsible for Spanish companies , will take place in approximately two years.

The hotel , located on a plot of 70,000 square meters, will maintain the 550 rooms , including 32 suites , twenty-eight meeting rooms , five restaurants, four swimming pools and tennis courts and fifteen new spaces as an artificial lake created and waterfalls , “spa “, ” fitness ” and a disco club .

The Magna Invest Foundation is established in Luxembourg and its main asset is the purchase and operation of hotels worldwide .

The funds raised are used mainly to finance college, scholarships for highly qualified young people without resources , says the note from the owner .

Meanwhile , CCOO has applauded the sale of one of the largest establishments in the Costa del Sol ” after eight years of struggle and strife .”

According to the secretary of the union Hospitality CCOO in Malaga, Lola Villalba , has had to fight hard to maintain jobs and to not speculate with the hotel , since ” all indications pointed to convert it into apartments ” .

This type of hotel listing ” of those who can no longer build ” because of the green and recreational areas which have , why he became his day ” a reef too sexy for speculation ,” he referred .

The union leader recalled that the mayor of Marbella , Ángeles Muñoz ( PP), committed to the employees of the workplace in which they would not change the land use on the property , which is listed as a hotel is located .

Villalba has also asked him to intercede with the company so that employees have priority to go to work when carrying out the reform of the facilities.