Zoom
Current state of renovation at Hotel Guadalmina in Marbella. Josele Construction Marbella approves renovation of two iconic hotels with budget exceeding 17 million eurosThe plan concerns the Guadalmina and the Senator hotels
José Carlos García
Marbella
Wednesday, 22 April 2026, 15:47
ShareThe hotel sector in Marbella keeps accelerating investment. The local ruling team gave on Tuesday the green light to two projects for the renovation of iconic hotels in the town.
One is the Senator Marbella, which the Meliá chain will operate after a 12.88-million-euro renovation. The project was already under consideration and received final approval from the municipal governing body after fulfilling a prerequisite for its implementation.
The other hotel is the Guadalmina, which is in the hands of Hotel Investment Partners (HIP), 65 per cent of which is owned by American investment bank Blackstone (the world's largest alternative asset manager). The local ruling team has approved a modification to the project, which entails an additional injection of 4.81 million euros, following the town hall's initial approval in May 2023 for 55 million euros.
The announcement comes after news emerged that Blackstone plans to sell Hotel Investment Partners. At first, the company considered a direct sale to Singapore's sovereign wealth fund GIC, which bought a 35 per cent stake in the hotel group in 2024. Now, however, the plan seems to focus on a stock market listing, which could become one of the largest IPOs in recent years.
Related story