Ribadeo House

We are pleased to offer EXCLUSIVELY for sale this wonderful indiano-style building, which is currently a renowned 4-star Boutique Hotel. However, it could become the magnificent home for someone looking to invest in this luxurious property, whether for personal use or to continue focusing on tourism.

This building was completely rebuilt in 1910, years after the sailor José María Cancio and his wife Asunción Martínez Marzo had passed away. We believe the project was financed by their son-in-law Vicente Loriente (Castropol 1859 – 1939), as the construction budget requested from the Oviedo architect Juan Miguel de la Guardia lists Loriente as the applicant. Family oral tradition tells us that Loriente, who spent part of the year in Cuba, built this house so his wife could spend winters with her sisters and their families.

A brief mention is necessary for the distinguished architect of the house, Juan Miguel de la Guardia.

The work was carried out using the finest materials:
- Northern red pine, pinotea, chestnut, and oak woods
- Granite masonry, likely from the Burela area, avoiding the more common Ribadeo limestone from Vilavedelle
- Hardware and locks from France
- Castings from Gijón
- Electric motor for well water service
- Mahogany toilet seats
- Electric doorbells

All these materials had to be transported by sea. The contractor was Ramos from Ribadeo (father of Pepe Ramos). Excluding the land, which already belonged to the family, the architect estimated the construction cost at 20,822 pesetas. Around the same time, the Castropol Casino had a budget of approximately 24,000 pesetas.

Two camellias, one red and one white, were planted in the backyard as symbols of an indiano house.

Currently, the property includes:
- 9 double rooms, several with balconies
- A lounge for breakfasts, meals, dinners, and meetings
- A kitchen connected by a dumbwaiter to the ground floor restaurant
- A charming interior patio used as a terrace/dining area
- A basement area currently used for storage
- An elevator

The comprehensive renovation was completed in 2018 using the best materials and exquisite design and decoration, maintaining a modernist air blended with a contemporary touch. Every detail has been carefully refined to present the high-level image the hotel holds. Moreover, despite being in the heart of Ribadeo’s historic center, it offers a relaxing and peaceful atmosphere, ideal for perfect vacations in Mariña Lucense or for teleworking in an unbeatable environment.

According to data from the National Institute of Statistics, both REVPAR (revenue per available room) and ADR (average daily rate) exceed the average for 4-star gold hotels in the area. Regarding profitability, purchasing the hotel today would yield over 7%, not including restaurant profits since the service is currently outsourced. If the buyer operated the restaurant personally, profitability would exceed 9%.

Considering that northern Spain is booming due to the high temperatures elsewhere in the country and the continuous increase in tourism in the area, these figures will undoubtedly improve. This is an excellent opportunity to acquire a unique property in one of the most promising areas in the country today.

Do not miss the chance to see it in person or contact us with any questions you may have.