To obtain capacity to invest abroad, management company Global Myner Advisors Hotels (GMA) and Bankinter’s hotel specialist REIT will increase its capital in between 100 and 150 million euro. It will also close exclusivity deals with the owners of several hotels, mentions Spanish newspaper El Confidencial.
The 23 hotels which are currently part of its portfolio, according to data provided by the REIT, are located in Spain and more than half have their offer directed towards the holiday periods. According to the same newspaper, Atom Hoteles is outlining strategies so that, at the end of the year, its urban hotel offer surpasses its current real estate offer. Its future investments both in Spain and abroad followed this strategy.
This is not Atom’s first capital increase. In 2018, before entering the Mercado Alternativo Bursátil, the company needed to inject a total of approximately 439 million euro in order to be able to invest about 500 million euro in the purchase of several assets which are currently part of its portfolio.
