Ikos Resorts has announced that it will buy the Costa Del Sol Princess hotel in Estepona, near Marbella, with plans to reopen the property after renovation as Ikos Andalusia in May 2020 in a investment worth €150 million.

The upmarket all-inclusive hotel company currently operates two resorts in the Halkidiki region of Greece with a third property - Ikos Dassia in Corfu - due to open next month followed by a fourth resort, Ikos Aria in Kos, next year.

Ikos Andalusia will have more than 400 rooms and suites, eight restaurants, sporting and theatre facilities, a spa, and indoor and outdoor heated pools.

Antonis Avdelas, Ikos Resorts’ chief sales and marketing officer, said: “Estepona has always been a landmark destination for travellers seeking an ideal balance of sun, sea, lifestyle and culture.

“We are therefore excited to introduce our unique all-inclusive experience and the amazing Infinite Lifestyle promise to Spain by transforming the existing property within the sustainable framework of Ikos Green.”