Austria
- Having operated the hotel since 2008 on a rental basis, the chain is taking ownership of this iconic hotel in Tenerife, with an investment of around 30 million euros on renovations in order to improve the services offered to its loyal customers
- With this investment, the chain reaffirms its commitment to the Canary Islands, to the wellbeing and stability of its staff, and to quality
RIU Hotels & Resorts has completed its purchase of Hotel Riu Buena Vista, located in southern Tenerife, with spectacular views of the Atlantic from its outstanding location in Costa Adeje. The chain has been operating the hotel since 2008, but only now has it been able to buy the building, with a view to investing in a major overhaul that will modernise the hotel and increase the quality of its services.
RIU has three hotels in the south of Tenerife. Riu Palace Tenerife and Riu Arecas were fully refurbished in 2015. All that remained to be done to complete the modernisation of its establishments in this location was the refurbishment of Riu Buena Vista, and this will now be possible after its purchase.
This acquisition represents a step forward in our strong commitment to the Canary Islands, where we opened our first hotel in 1985, and an increase in the quality of our services overall. Our purchase of this hotel also means job stability and wellbeing for all the staff after a period of uncertainty prior to the confirmation of the purchase transaction, explains Luis Riu, CEO of Riu Hotels & Resorts.
With 4-star rating, all-inclusive service, 509 rooms, two restaurants and three bars, the hotel is ideal for family holidays, thanks also to its extensive daily entertainment programme and evening shows. The refurbishment, planned for the year 2020, means a qualitative improvement to the facilities, with a new design and new services to please its loyal customers.
Luis Riu believes that a commitment to quality is the only way to keep customers and to hold our market position, especially now that competing destinations like Tunisia, Egypt and Turkey are gaining popularity in the main European countries, which are also the countries that bring most customers to the Canary Islands. I am confident that this refurbishment will also serve to maintain our popularity with our customers, including the British, who make up a significant market for this destination and for this hotel in particular.
The RIU Group has an ambitious expansion plan for the next five years, with a strong commitment to new destinations, especially in Asia and Africa, and large global cities where it plans to open Riu Plaza urban hotels. The hotel chain, which goes back more than 65 years, is characterised by its strong commitment to the destinations where it settles, investing in long-term projects that involve the local community through its purchasing, employment and sustainability policies. RIU is also making a big investment in the development and improvement of an increasingly sustainable operation, and all of its projects are guided by respect for the environments and the local culture and environment.
