Lopesan Group Secures Key Taurito Assets in Major Auction
In a significant development for Gran Canaria’s tourism sector, the Lopesan Group has been declared the provisional winner of four out of five lots auctioned from the assets of Mar Abierto S.L. The decision was confirmed by a ruling from Judge Alberto López Villarubia of the Commercial Court No. 1 in Las Palmas de Gran Canaria on September 17, 2025. The specialized entity CBRE Real Estate S.A., appointed by the bankruptcy administration, officially notified Lopesan’s subsidiaries, Isla Marina S.L. and Lopesan Touristik S.A.U., of their successful bids for lots 1 through 4.
Clarifying the bid figures
The Gran Canaria-based hotel group clarified that its combined offers for the five auctioned lots exceeded those of its competitor, Grumasa Martinón, by €12.932 million. Crucially, the group emphasized that the difference for lots 1 and 2—which include commercial premises and hotels in Taurito—was €3.702 million, and not a mere €1,000 as had been previously reported in some media.
Court rejects bid to link separate auctions
In his ruling, the judge also resolved that the auction of these five lots should not be linked to a new auction for two additional lots announced in July. He determined they must be treated as two separate processes, thereby rejecting a request from the bankruptcy administration. The court order stated, “The auction is governed by rules that must be respected, and in this case, it comprised five lots, with the bidding process concluding on July 11, 2025.”
The judge further elaborated that linking the two auctions made no sense, as the first auction alone had fetched a total of €99,242,000 against a bankruptcy liability of €84,729,831. Therefore, combining the auctions for a global award of all seven lots was not justified by the interests of the bankruptcy proceedings, which were amply satisfied by the initial sale. The judge also urged the bankruptcy administration to expedite the necessary procedures for the sale deeds for lots 2 through 5, with lot 1 not involving an immediate transfer of ownership at this stage.
Breaking down the awarded lots
Lot 2, awarded to Lopesan, includes the commercial premises facing the Costa, Valle, and Lago Taurito hotels, which are part of the separately awarded Lot 1. Lots 3 and 4, also won by Lopesan, correspond to buildable plots of land in Meloneras. Lopesan highlighted that it was the only bidder to submit offers for all lots up for auction, demonstrating a “resolute commitment to driving the tourist development of Gran Canaria.” Its total bid reached nearly €100 million, specifically €99,432,000.
This bid was broken down as €85 million for Lot 1, €5.2 million for Lot 2, €3.6 million for Lot 3, €3 million for Lot 4, and €2.6 million for Lot 5. In contrast, Grumasa Martinón bid a total of €86.5 million, but only for two lots: €85 million for Lot 1 and €1.5 million for Lot 2. Lopesan insists the total difference between the two corporate groups was almost €13 million.
Legal challenges do not delay the process
Appeals filed by the Grumasa Martinón group, through the company División Turística Valle Taurito S.L., and by the works committee of Mar Abierto S.L., do not have suspensive effect. This means they do not halt the execution of the judge’s ruling, which remains fully effective regarding the auction that began on May 22 and ended with the final bid on July 11. Lopesan added that the auction process was conducted with equal conditions for all participants and the same improvement increments. The award to Lopesan responded “exclusively to competitiveness criteria, based on operational efficiency and a better economic offer that could not be surpassed by the rest of the competitors.”
Judge cites irregularities in the process
Despite this, Judge Villarubia’s ruling pointed out “irregularities” in the process, “censuring the actions of the bankruptcy administration for deviating from the rules of the asset auction.” The order reminded the administration that it cannot add new lots (6 and 7) in a new auction that has not been authorized by the court, nor can it modify the results of the already concluded auction (lots 1 to 5). Lopesan stated that the operation, concluded on July 15, has been embroiled in a “controversial management” that delayed the confirmation of the award for over two months, when it should have been communicated within 10 days of the bidding’s conclusion.
The tourism rebirth of Taurito
Finally, the Lopesan Group outlined that its project for Taurito is “an opportunity to revitalize the tourist area and improve the lives of those who reside there.” The company guarantees the transfer of all staff under the same conditions, ensuring employment continuity and stability for hundreds of families in compliance with labor law.
However, the proposal goes “further” than simply managing hotels and commercial premises. It envisions a “comprehensive transformation of the destination,” with new investments that will generate additional employment, boost the local and regional economy, and elevate the quality of the tourist offer, mirroring the company’s successful track record in Meloneras.
“Lopesan’s commitment aims to turn Taurito into an international benchmark, helping to reinforce the Canary Islands’ position as a tourist destination that meets current demands,” the company concluded. “At the same time, we seek to consolidate a more inclusive, sustainable model committed to its people, through housing projects that are already underway in other parts of the south of the island.”
