Hotels Group has completed the purchase of the Mare Nostrum Resort on the “Golden Mile” in Playa Las Americas, in the south of Tenerife, in the largest hotel asset transaction in the history of Spain.

Piñero Group and Hyatt are set to open the Bahia Principe Luxury Tenerife in Costa Adeje, Tenerife, on December 1st, marking the first hotel under their newly formed alliance in Spain.