This is a majestic ghost hotel being auctioned off in the middle of the Argentine tourist scene

The construction was never completed and is a white elephant in the middle of the mountains of Cordoba: its basic value is just over 80 million pesos

11/27/2025 – 3:23 pm

A large and unusual investment opportunity has been opened in the heart of the city’s tourist circuit Cordoba. The district judge ordered a judicial auction of the huge building, popularly known as… Embalsi “ghost hotel”It is a project that has never been opened before, and which has become a “white elephant” in the midst of the majestic mountains.

The complex of Establecimientos Elios SA is located in Embalse, Rio III, Only 100 meters from the road and with a distinctive view And great towards the tank of the same name. The Private Groups Joint Management Court has ordered its sale and has sparked interest from property developers and hoteliers from all over the country.

The auction will be conducted electronically at the specified base price $81,842,884. Despite its unfinished state, the structure reveals the ambition of the original project, offering a covered building base of more than 5,500 square meters and a strategic location in an area with high tourist demand.

A ghost hotel is being auctioned off in Embalse, Cordoba

The unfinished building is a hotel apartment-type project consisting of six levels and more than 5,500 square meters covered. Its size stands out in the landscape, meters from the Embalse Shopping Centre.

The original design includes a total of 45 apartments, distributed over five residential levels. The structure is composed as follows:

• Second basement floor: Designed for garages that can accommodate more than 20 to 30 vehicles.
• First basement floor: It is planned to include 9 apartments overlooking the rear of the property.
• Ground floor: A large reception hall, designed to serve as a large bar, restaurant and kitchen area to serve guests.
• Upper floors (first, second and third): Each consists of 12 apartments (36 units total), the vast majority of which have two bedrooms, and enjoy front and rear views of the magnificent mountain landscape.
• Balcony: Designed to house elevator machine room and central air conditioning equipment.

The incomplete infrastructure also includes the display of the swimming pool and its changing rooms, confirming that the project aims to be a first-class tourist complex in the mountains of Cordoba.

Ghost Hotel in Embalse: schedule and requirements for participating in the online auction

The sale of the majestic Establecimientos Elios SA complex will be carried out through the electronic auction system of the province of Córdoba, ensuring the transparency of the process and allowing the participation of investors from all over the country.

The professional responsible for managing the auction is Luis Alberto Savid. Those interested in the “Ghost Hotel” auction should pay attention to the schedule set by the Associated Administrative Court for Special Collections:

• Registration and Offers Open: The period will begin on December 2, 2025 at 11:00 AM.
• Final Closing of Bids: Auction will end on December 10, 2025 at 11:00 AM.

To participate, bidders must register and submit their bids through the province’s official judicial auction portal, whose website is auctions.justiciacordoba.gob.ar. The auction represents a unique opportunity to acquire a large-scale property in a strategic tourist area in the mountains of Cordoba, ready for completion and operation.