An existing hotel property surrounded by an 18-hole golf course, Valle Romano Residences, Golf & Resort will soon receive a $5.9 million renovation to become a four-star condo hotel. It will have 430 condo hotel units, which the developers call “apartments,” available for sale to individual investors.

Apartment owners will receive a 5% net return guaranteed for the first three years of ownership. They’ll also be allowed up to 8 weeks of usage of their unit each year.  After three years, 80% of the net profit of the resort business will be divided among the owners in proportion to the unit they own.

Valle Romano Residences was built in 2010 but was recently purchased by a new developer.  Some upgrades have already begun. In September 2018 extensive renovations will start. They will include many upgrades that will increase the value of the development and the individual apartments.

Upgrades to the existing resort will include:

• Larger reception
• Contemporary restaurant
• More social spaces for hotel guests
• Snack bar and a solarium
• Gymnasium and spa (Completion scheduled for March 2019)
• Kids club (Completion expected June 2018)
• Bigger and renovated commercial areas including a mini-mart

All renovation work should be concluded by May 2019. The condo hotel’s operator will be Ona Hotels, one of the most respected hotel management companies in Spain with more than 20 years of experience in hotels and resorts businesses, including 29 hotels on the Spanish coast.

The existing resort already has numerous amenities including:

• 2 restaurants specializing in international and Mediterranean cuisine
• Pool bar that serves aperitifs, drinks and cocktails
• 3 swimming pools
• Snack bar
• 18-hole golf course
• Access to a variety of sports amenities
• Free Wi-Fi in communal areas
• Kids’ Club and children’s playground area
• Garden and shared terrace
• Storage space for your personal items
• Free access to parking spaces

Additionally, Valle Romano Residences offers concierge services, 24-hour reception, onsite security and shuttle service to the beach and town center.

The individual condo hotel units, or apartments as they’re called in this property, overlook the sea and mountains. They will be delivered fully furnished. All maintenance will be handled by the Ona Hotels, the hotel management company.

Brand new furnishings for each unit as part of the upgrade will include a flat-screen TV, sofa, safe, and dining table, while the kitchen is fully-equipped with an oven, microwave, ceramic hob, extractor hood, fridge-freezer, dishwasher, coffee machine and toaster.

All apartments have a large terrace with outdoor furniture, and a washing machine, garage and storage room are all available.

Valle Romano Residences, Golf & Resort is located in Estepona. It’s a quick 20-minute drive to the famous resort town Marbella, 45 minutes to Malaga Airport and 25 minutes to Gibraltar Airport.

The resort is just a few minutes by car to several beaches and the marina of Estepona, which offers a variety of restaurants and retail shopping. Other popular nearby tourist sites include:

• La Rada Beach
• El Cristo Beach
• Selwo Aventura Adventure Park
• Estepona Leisure Port

The apartments for Valle Romano Residences come in a variety of one- and two-bedroom floor plans, ranging from 1,181 sq. ft. to 2,257 sq. ft.  Prices range from $114,500 to $229,000 (subject to change due to fluctuating exchange rates).