Martinón Beats Lopesan: €85 Million for Four Hotels in Taurito

After nearly a year of legal wrangling, the judge at Commercial Court No. 1 in Las Palmas, Alberto López Villarrubia, has settled the most spectacular hotel deal in the Canary Islands: Grupo Martinón, through its subsidiary División Turística Valle Taurito, receives three hotels in Playa de Taurito (Mogán) and the concession for the Hotel Las Tirajanas in San Bartolomé de Tirajana. Total price: €85 million. CITA News, your news portal for Gran Canaria, explains why the highest bidder didn't win — and what it means for the south of the island.

The Deal: Four Hotels, Two Giants, €1,000 Apart

The story begins in May 2025, when the assets of bankrupt company Mar Abierto — part of the once-powerful Santana Cazorla empire — went to auction. The electronic auction in July 2025 ended with two bids: Lopesan offered €85,001,000, Martinón offered €85,000,000. Although Lopesan initially won the bid, Martinón and the workers' representatives filed objections.

In January 2026, the insolvency administrator Lener recommended a reassessment — and came down in favour of Martinón. The judge followed this recommendation, basing his decision on three decisive factors.

Why the Highest Bidder Didn't Win

The judge called the €1,000 price difference "irrelevant" and identified three other factors as decisive.

First: The water park. Martinón assumed the existing contract for the Parque Acuático Lago Taurito and its car park — a core element of the hotels' all-inclusive model. Lopesan had explicitly excluded this contract, which according to the insolvency administrator could have caused millions in damages to creditors.

Second: Tour operator deposits. Approximately €2.5 to 3 million in advance payments from tour operators for services not yet provided were at stake. Martinón left these funds in the insolvency estate — benefiting creditors. Lopesan wanted to claim them.

Third: The workers. Martinón took on the entire workforce including 25 employees on excedencia (unpaid leave). Lopesan would have excluded them — which the judge said would have led to future severance payments from the insolvency estate. The works councils unanimously backed Martinón.

What This Means for the South of Gran Canaria

For Maspalomas, Mogán and the entire south of the island, the decision has far-reaching consequences. The three Taurito hotels have been operating under the LIVVO brand (Martinón) for five years and are an established part of the all-inclusive tourism landscape. Continuity is now secured — a switch to Lopesan would have meant an operator change with uncertain outcomes.

Additionally, Lopesan secured lots 2, 3 and 4 in the same auction: 26 commercial units in Playa Taurito and two building plots in Meloneras with a combined area of over 12,000 square metres. The signal is clear: both hotel giants are investing heavily in the south of Gran Canaria.

Lopesan Announces Appeal

Grupo Lopesan has already announced it will "exhaust all legal avenues" to reverse the decision, citing "manifest material errors" in the ruling. Lopesan has five days to file an appeal. If it fails and the ruling becomes final, Martinón must deposit €85 million with the court within ten days. If it fails to do so, the award passes automatically to Lopesan.

The saga will therefore have at least one more chapter before the Provincial Court of Las Palmas.

Background: The Santana Cazorla Empire

The hotels belong to the bankrupt Mar Abierto S.L., a company of the Santana Cazorla brothers who built a hotel empire on Gran Canaria over decades. The bankruptcy is part of a complex liquidation that also includes a property dispute over two of the Taurito sites dating back more than 30 years. Martinón has accepted this legal risk according to the court ruling.

More on the Canary Islands hotel market at Canarias7.

MartinónLopesanTaurito HotelsGran Canaria85 MillionSantana CazorlaMogánLas TirajanasLIVVO HotelsHotel Market CanariesInsolvencyMaspalomasMelonerasTourism Gran CanariaCanary Islands