Sagardoy acted as labor law advisor in the recent acquisition transaction carried out by Arcano Partners through its fund Arcano Spanish Value Added Real Estate III SCA SICAR ELTIF (AVA III), under which three four-star hotels located in Tenerife have been added to the portfolio.
The acquired assets, totaling 1,050 rooms, are the Alua Atlántico Golf Resort in Golf del Sur (San Miguel de Abona), the Alua Tenerife, and the AluaSoul Orotava Valley, both in Puerto de la Cruz. The hotels will continue to operate under long-term management agreements with Hyatt, maintaining the Alua Hotels & Resorts brand, with year-round activity and occupancy levels above 80%.
Our firm has provided comprehensive advice to Arcano Partners on the labor aspects of the transaction, ensuring regulatory compliance and the proper management of employment relationships linked to the acquisition, as well as the operational continuity of the acquired assets.
In this transaction, Sagardoy was represented by the partner in charge of the firm’s Las Palmas office, Mar Ropero, and lawyer María Rodríguez, who led the analysis and structuring of the labor aspects arising from the acquisition.
The transaction forms part of AVA III’s investment strategy, focused on the progressive improvement of the assets and their repositioning in the holiday market. Sagardoy’s involvement in this project reinforces our position as a leading firm in labor law advice in complex transactions within the real estate and tourism sectors.
