Marbella Hotel Closes

After 39 years, the Hotel Incosol closed down on Sunday due to a lack of economic resources. The 130 workers have pledged to stay on and wait for an investor to buy the hotel. They will carry out maintenance duties and make an inventory of everything in the hotel.

The hotel has an outstanding debt of 60 million euros, 2.3 million euros is owed to workers, while around 57 million euros is owed to suppliers, banks, Hacienda, social security, as well as the government in terms of IBI property taxes.

Since its opening in 1973, this five-star hotel has been well known for its spa and beauty treatment services. Over the years the hotel attracted numerous celebrities and jet set personalities including the Prince of Monaco, King Fahd of Saudi Arabia, Sean Connery and even Bin Laden.