Some big names — and a few that are hoping for great things — are displaying a measure of confidence in the revival of the Costa del Sol’s economy and its appeal to the moneyed. James Hewitt, once linked to Diana, Princess of Wales, but now aspiring to be known as an entrepreneur rather than as a bounder, has opened the Polo House, a club in Marbella. Earlier this month, Jean-Christophe Novelli, an operator with more proven experience in the hospitality industry, launched his new restaurant at the luxe Lorcrimar hotel in Puerto Banús.

Champneys, the best-known brand in spas, is also showing even more faith in this area of Andalusia. Close to the white village of Ojén, in the sometimes rather chilly hills above Marbella, the group is building an Alhambra-style spa resort. Its target market is the better-off who want to be close to the beaches and La Cañada, the mega mall, but also want to enjoy their salt scrubs amid a bit of hush and 24-hour security.

On the road from Málaga airport, the carcasses of half-finished apartment blocks serve as a warning of the consequences of ill-considered development. Chris Needham, of Champneys, is keen to emphasise that this venture, which was seven years in the planning, is different. Buyers, he feels, will be reassured by the Champneys name — “we are a piece of England” — and the potential to let their homes to others who like to pad about in white towelling dressing gowns from one treatment to another. There may be something in this assiduously upmarket strategy, as half the 72 apartments, which range from €696,358 to €1,026,705, have already been sold.

www.champneysmarbella.com

Times recommends

• Second homes: credit crunch casualty or money-spinner?
• How I built my own sliding house
• Top 10 incentives for house buyers