Project dossier 01 / 09 · Proposed seed · Granada countryside · Andalusia
Almaro vision is an AI renovation concept, not an existing condition or approved design.
Original photograph · Cortijo del Marqués — operator photograph*Earlier screening case, after a replacement reserve and before debt and income tax. The full restoration illustrated here has not been costed. Use the works-budget sensitivity below to test larger investment. This earlier screen also needs a separately funded reopening-loss allowance. These are future targets, not current trading; room counts require licence verification.
The opportunity
Cortijo already has a distinctive room mix, dining and a working hospitality format. The present ambition is a complete renovation of the guest experience, supported by a paid operating team and disciplined revenue management. The earlier capital screen must be repriced against that design; seller accounts and a negotiated acquisition price remain essential.
The listing is strongly consistent with Cortijo del Marqués. That identity is probable and independently corroborated, but has not been confirmed by the seller. Almaro has no ownership or control of the property.
The screen uses 15 guest units. The advertised 21 bedrooms comprise 18 guest bedrooms within those 15 units and three manager bedrooms; they are not 21 hotel keys. Licensed capacity and the transferable operating permissions still need verification.
View sale listingThe linked Lucas Fox listing reports approximately 2,600 m² built and 4,000 m² of land. This screen retains the earlier Villas & Fincas particulars pending reconciliation.
Architecture & interiors
Restore the building’s character, renew its services and design the entire guest experience. These studies describe an ambition; a surveyed and priced scheme comes next.
Before · photograph
After · AI conceptComprehensive roof and lime/stone envelope restoration; cloister garden with water rill; limestone and brick paving; tailored loggia dining; restored pool edge. An illustrative design ambition; dimensions, permissions and costs remain to be established.
Before: Cortijo del Marqués official operator photography
After: AI design study. Not existing condition or an approved plan. Framing differs.
Before · photograph
After · AI conceptA complete suite restoration with repaired stone and timber, limestone floors, tailored linen upholstery, bronze details, concealed services and bespoke oak cabinetry.
Before: Cortijo del Marqués — official operator photograph
After: AI design study. Not existing condition or an approved plan. Framing differs.
01 / Proposed workstream
Schedule every double and suite, inspect bathrooms, lighting, acoustics and heating/cooling, and price a repeatable room package without making the units identical.
Existing source inventory; proposed specification.
Before commitment: An approved room schedule and a surveyed pilot room.
02 / Proposed workstream
Inspect roof coverings, rainwater disposal, masonry, electrical supply and hot water before specifying finishes. Separate urgent repairs from guest-facing upgrades.
Proposed technical scope; no condition survey supplied.
Before commitment: Measured condition report and priced repair schedule.
03 / Proposed workstream
Test luggage handling, night arrival, accessible routes, shaded seating and discreet wayfinding within the existing shared-space concept.
Courtyard evidenced in photography; circulation is proposed.
Before commitment: Access and fire strategy coordinated with the measured plan.
04 / Proposed workstream
Map breakfast and dinner preparation, stores, waste, linen and staff movement; set the kitchen scope from paid covers and service hours.
Dining format retained from business-plan research; new operating arrangement proposed.
Before commitment: Kitchen condition, permissions and a costed paid roster.
05 / Proposed workstream
Document the chapel and barn condition, verify assembly uses and noise limits, and separate maintenance of the pool and gardens from any optional event investment.
Chapel, barn and pool reported; future programming unapproved.
Before commitment: Written permitted-use advice and a separately costed event case.
The spatial program
Conceptual relationships between guest spaces, rooms and operations. No measured or approved architectural plans have been obtained.
The screen uses 15 guest units. The advertised 21 bedrooms comprise 18 guest bedrooms within those 15 units and three manager bedrooms; they are not 21 hotel keys. Licensed capacity and the transferable operating permissions still need verification.
Three manager bedrooms are not three additional guest keys. The surrounding farmland is not assumed included in the 3,951 m² sale plot. No new event capacity or new buildings are proposed in this diagram.
The property today / 10 photographs
Existing photographs from the operator or sale listing. Open any image for its full view; sources are linked below each photograph.
Acquisition & operating economics
Negotiate the acquisition and test the capital required. A more extensive renovation must earn its place in the investment case.
Operating scenario
This earlier model contains a base case only.
Price sensitivity, not an agreed discount. Only purchase price and its 12% transaction allowance change; operating income stays the same.
The full renovation concepts are not costed. This sensitivity increases works and contingency while keeping operating income unchanged; it does not forecast a higher room rate or capture extra closure costs.
€171k cash after replacement reserve ÷ €3.99m screening capital.
Unlevered; before income tax. Not IRR.
Earlier screening budget: reopening losses, holding costs and some fees/FF&E have no separately verified allowance. Yield will fall when unfunded costs are added. These are post-improvement assumptions, not current trading. Net rates exclude accommodation taxes and precede commissions; occupancy uses all 365 days.
Allowances need a measured survey and contractor pricing. Financing, tax and any extra central costs are excluded.
Current operator from €143 standard to €296 family, gross with breakfast; proposed €220 NET average needs mix and pricing validation.
Starting prices and individual stay quotes do not establish achieved annual ADR. The target must be tested with monthly room sales, rate mix, seasonality and booking pace.
View the source propertyOfficial room-category starting prices run from €143.10 for a standard double to €296.10 for family suites, with breakfast and taxes included. These undated prices do not establish the proposed €220 net annual ADR.
Official page checked 2026-09-16; undated category prices, no stay search.
Property business plan · operating screen
Use the 15-unit Cortijo as the first operating hotel, with room pricing and dining economics tested before expanding the collection.
Earlier screening timetable: Allow 6–12 months after closing for a phased refresh, then 18–30 months to test stabilized trading. Permissions, operating continuity and ramp funding must be priced. The full renovation design requires its own permission, contractor and closure programme; these durations are not a validated delivery schedule for that design.
Proposed commercial plan; guest segments and interventions are hypotheses to validate. The complete renovation ambition requires a newly priced scope, an opening programme and validation of the room-rate and occupancy targets; the retained operating and capital figures are an earlier screen. The operator currently states groups up to eight and children over twelve. A wider family or event format would be a proposed policy change.
The diligence room
Reconcile the 15 guest units, transferable permissions and included business with the seller’s accounts and sale perimeter.
The screen uses 15 guest units. The advertised 21 bedrooms comprise 18 guest bedrooms within those 15 units and three manager bedrooms; they are not 21 hotel keys. Licensed capacity and the transferable operating permissions still need verification.
Public operator description and retained source imagery are available; legal identity, licensed capacity and inclusion in the sale still need documents.
10 attributed property photographs are linked. These record advertised appearance; they are not a measured or current-condition survey.
Use the 15-unit Cortijo as the first operating hotel, with room pricing and dining economics tested before expanding the collection. The operating plan is illustrative, not actual seller trading.
No measured, architect-certified existing plan or survey is present in the reviewed dossier. The attached SVG is a conceptual relationship diagram only.
No current licence certificate, approved accommodation schedule or complete planning/activity permission set is present in the reviewed material. Key issue: Reconcile the 15 guest units, transferable permissions and included business with the seller’s accounts and sale perimeter.
Seller confirmation of the Cortijo identity, title, included business assets and sale boundary. The current broker listing reports 2,603 m² built and a 3,951 m² plot; other saved records give 2,630 m² built. Reconcile registered, cadastral and measured areas.
No measured condition report, coordinated services/fire/access design, tendered bill of quantities or construction-ready blueprint is supplied. The workstreams below are a proposed brief.
No verified actual ADR, occupied nights, NOI or full employee schedule is supplied. Request 36 months of monthly trading, payroll, bookings and capital history where an operating business exists.
Seller confirmation of the Cortijo identity, title, included business assets and sale boundary.
Decision gate: Resolve the 2,603/2,630 m² discrepancy and the actual land conveyed.
Tourism certificate, approved plans and room-by-room schedule.
Decision gate: Reconcile 15 units, 18 guest bedrooms and three manager bedrooms.
Measured survey, access/fire review and chapel/barn activity advice.
Decision gate: Separate hotel essentials from any optional event programme.
Monthly accounts, occupied nights, payroll, food covers and contractor prices.
Decision gate: Underwrite achieved trading and a fully paid opening team.
Completed works checks, required permissions, operational systems and trained staff.
Decision gate: Open only the units and services cleared for occupation.
The current broker listing reports 2,603 m² built and a 3,951 m² plot; other saved records give 2,630 m² built. Reconcile registered, cadastral and measured areas.
The surrounding countryside should not be assumed to form part of the 3,951 m² sale plot. Verify boundaries and included land.
An old agricultural estate with the makings of a destination: courtyard life, a chapel, an event barn and an established hospitality setting in the Granada countryside. It is the clearest expression of Almaro’s starting idea—architecture and landscape with a story already worth travelling for.
Existing property record; advertised particulars, not title or a survey.
Retained operator material and photographs; not a licence certificate or seller accounts.
Retained analyst research and screening assumptions.
Proposed interventions, paid operating assumptions and conditional timing; source record in business-plan.json.
Existing attributed source photography. Marketing imagery does not certify current condition.
Existing attributed source photography. Marketing imagery does not certify current condition.
Existing attributed source photography. Marketing imagery does not certify current condition.
Existing attributed source photography. Marketing imagery does not certify current condition.
Existing attributed source photography. Marketing imagery does not certify current condition.
Existing attributed source photography. Marketing imagery does not certify current condition.
Generated visual studies and schematic diagrams are not as-built records or technical approval. A photograph does not verify the sale boundary, condition or licence. Photography publication licences have not been established.