Thomas Cook’s first own-brand hotel in Spain has re-opened in time for the summer peak after a multi-million euro upgrade.
The 252-room Sunwing Arguineguin family hotel in Gran Canaria, has been closed for two months in the third stage of a four-year revamp due to be completed in 2020.
The €13 million scheme has included refurbishment of most of its rooms, bars and restaurants and “significant investment” in sustainable technology including solar panels.
A new a la carte restaurant and bar will be completed to meet the demand from customers for more upmarket dining experiences as well as the final set of bedrooms.
The beachfront property on Gran Canaria’s south-west coast, is Thomas Cook’s first hotel in Spain and has been in operation for more than 30 years.
Running year-round with an occupancy level of around 98%, the hotel employs up to 180 people, many of who have been there since the first day.
Thomas Cook, currently undergoing a planned £750 million recapitalisation backed by Chinese conglomerate Fosun, is spending €40 million on own-brand hotels in Spain this year and in 2020.
The investment signals “a renewed commitment to its number one holiday destination with its strategic hotel partners,” Thomas Cook said.
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The scheme, unveiled last month, is part of a drive to grow its own-brand hotels and resorts business and cement its position as one of the top five international hotel chains in Spain.
Thomas Cook carries around four million holidaymakers to Spain each year from 15 European countries. A new office in Palma was opened last year that is home to around 600 staff across its finance, in-destination and hotels divisions. The company employs almost 2,500 people across Spain.
Thomas Cook launched a hotel investment fund last year with joint-venture hotel development partner LMEY with five hotels – a number that has since grown to nine properties including a greenfield plot in Kos. The fund has secured €51 million in funding from CaixaBank in addition to €40 million from Piraeus Bank.
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