Mazabi, a Spanish asset management company specializing in long-term property management, particularly within the hotel sector headquartered in Madrid has just closed the acquisition of a luxury hotel in San Sebastián, famed resort city on the Bay of Biscay in Spain's mountainous Basque Country, known for Playa de la Concha and Playa de Ondarreta, stunning beaches framed by a stylish and elegant promenade, and worlds - renowned restaurants helmed by innovative chefs.
With this incorporation the hospitality group reaches 17 hotel, tourism and corporate assets, with an estimated valuation of more than €400 million.
This acquisition in the Basque Country of this luxury hotel is part of Mazabi's strategy to create value in its portfolio or diversified assets and locations in strategic locations in the national territory.
Once value was created and assets stabilized, during the course odf 2024 and 2025, the company proceeded to rotate hotels in Cadiz, Cordoba, Madrid and Castilla y León for approximately €60 million.
The Hotel Luze Boutique San Sebastián situated in Monte Igueldo, a quarter of San Sebastián located at the mountain range of the same name towering over the west side of the Bay of La Concha will be managed by Luze Hotels, a hotel chain with its central official located in Tudela, Navarra, Spain.
The property which has been completely refurbished, consists of two buildings with a total of 42 rooms, providing a restaurant operated by the renowned chef Iñigo Lavado, who has chosen this space to open his new gastronomic proposal : Itzuli.
Amenities include a wellness area with spa, an infinity pool, gym, private rooms, gardens of about 9.000 m2 and a large car park.
CEO of Mazabi, Juan Antonio Gutiérrez expressed his enthusiasm for this operation that allows the group to complete its portfolio with a luxury hotel located in a strategic area of northern Spain.
Link
https://www.hosteltur.com/170223_mazabi-compra-un-hotel-de-lujo-en-san-sebastian.html