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RIU confirm commitment to Canary Islands with new hotel purchase

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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 modernize 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 modernization of its establishments in this location was the refurbishment of Riu Buena Vista, and this will now be possible after its purchase.

β€œThis 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.

Luis Riu believes that β€œa 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 large global cities where it plans to open Riu Plaza urban hotels.