Hoteliers are showing interest in acquiring the Mega Park site in Arenal and converting the complex into a hotel with a luxury beach club. This interest has come about because of problems faced by the Cursach Group, which owns Mega Park. The company announced earlier this week that it has entered a period of pre-insolvency to negotiate with banks and suppliers. Part of the group's problems stem from the fact that Mega Park is currently closed on the order of Palma town hall and may not open for the season; Mega Park contributes around 60% of group turnover.
The company is saying that it has no interest in selling the site, but if it were to, then its conversion would lead to a radical change of image for Playa de Palma and in particular the area of Arenal where Mega Park is located. This radical change would follow on from the investments made in the resort, which have been worth some 200 million euros and have created, among other things, two new five-star hotels.
The Mega Park site is classified under the Playa de Palma redevelopment plan as being for tourist-hotel and services use. In this respect there wouldn't in theory be an obstacle to hotel development; the practice, including permission from the town hall, might be another matter. The site is said to be valued at between 12 and 15 million euros.
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