The pool of lenders has been led by BBVA (coordinating bank, sustainability coordinator and agent), and followed by Instituto de Crédito Oficial, BCC-Grupo Cajamar and Banco Pichincha España, S.A .
Victoria Hotels & Resorts (“VHR”) is an investment vehicle promoted by Bankinter and Meliá Hotels International (MHI), both holding a 7.5% stake and having presence on the Board of Directors . GMA acts as its asset manager and member of the Board as well.
After taking over 92.50% of the vehicle VHR from MHI on June 30th, by a small group of investors led by Bankinter, the Company held its first Board of Directors on July 23rd with the aim of approving: the renovation and repositioning plan of the assets, its timing for execution and the roadmap of the new Company. This plan commits for the investment of more than 125 million euros and will be carried out in the years 2021, 2022 and 2023.
As reported when the transaction was completed, the repositioning plan was a key strategic element of this agreement. The investment plan secured with this financing will be the basis for generating value and unique attributes in the services offered, fitting with the brand standards and sustainable financing requirements; and at the same time, taking advantage of the recovery curve that the sector will face in the coming months. With this financing agreement, Victoria Hotels & Resorts secures the complete renovation and repositioning of its portfolio when activity levels start to recover, maximizing their operating performance and the degree of satisfaction of their current and future guests
Hotel assets in the portfolio of Victoria Hotels & Resorts are: ‘Gran Meliá Victoria’ in Palma de Mallorca; ‘Meliá Tamarindos’ in Gran Canaria; ‘Meliá Granada’; ‘Sol Beach House Menorca’; ‘Meliá Salinas’ in Lanzarote; ‘Innside Bosque’ in Palma de Mallorca; ‘Meliá Atlanterra’ in Cádiz; and ‘Innside Zaragoza’. With the exception of ‘Innside Zaragoza’, fully renovated in the last years, the rest of the portfolio will be renovated and repositioned as mentioned before.
About Bankinter y Bankinter Investment
Bankinter is the fourth Spanish bank by stock market value, the most solid in the Spanish financial system and the third in Europe, according to recent stress tests carried out by the EBA – European Banking Authority. Bankinter Investment, the entity’s Investment Banking area, has promoted an important alternative investment platform that has become a benchmark in the Spanish market. In the last five years, it has launched, with the help of expert managers in various sectors, 16 successful alternative investment vehicles with a committed capital of 3,200 million euros. Bankinter Investment has a portfolio of assets under management of more than 5,000 million euros, including project financing. For the asset management, Bankinter has followed the model of partnering with an expert company in each investment field of each fund or Socimi, such as renewable energies, hospitality, student residences, infrastructures, commercial surfaces, logistics, private equity and venture capital.
About Meliá Hotels Internaational
Founded in 1956 in Mallorca (Spain), Meliá Hotels International operates more than 380 hotels (portfolio and pipeline) throughout more than 40 countries, under the brands Gran Meliá Hotels & Resorts, Paradisus by Meliá, ME by Meliá, Meliá Hotels & Resorts, INNSiDE by Meliá, Sol by Meliá and TRYP by Wyndham. The Group is one of the leading companies in resort hotels worldwide, while also leveraging its experience to consolidate the growing segment of the leisure-inspired urban market. Its commitment to responsible tourism has led the Group to become the most sustainable hotel company in Spain and Europe in 2020, according to the SAM Corporate Sustainability Assessment (CSA). It also has ranked seventh in the Wall Street Journal’s list of the 100 most sustainably managed companies in the world (and the leading travel company) and is the only Spanish travel company included in the list of “Europe’s Climate Leaders 2021” by Financial Times. Meliá Hotels International is also included in the IBEX 35 Spanish stock market index and it is the Spanish hotel leader in Corporate Reputation (Merco Ranking). For more information, visit www.meliahotelsinternational.com .
Independent investor and manager of real estate investment vehicles, specialized in real estate hospitality assets and projects.
In its more than 20 years of experience in the national and international market, GMA has managed and owned third-party investments, assuming different roles depending on the type of vehicle, from pure management to the figure of investor-manager.
In recent years, the team has participated in more than 400 transactions and participated in hotel projects worth more than 5 billion euros. Currently, it manages more than 1,000 million euros in assets. Its parent company is GMA Capital, founding partner of ATOM Hotels SOCIMI, together with Bankinter.