Atom Hotels reaches €671M portfolio

Atom Hotels reaches €671M portfolio

The Bankinter’s REIT currently has a total 6.465 rooms spread across these hotels, which are divided between urban (13) and holiday (14) hotels, according to the REIT’s note on 2019’s financial year, released at the Mercado Alternativo Bursátil this Monday.

Atom Hotels made 6 investments last year for a total 161.4 million euro. The largest investment was the acquisition of Hotel Isla Bonita in Tenerife for 53 million euro. This was one of 5 transactions that took place last December alone, according to the latest data issued on the same report.

Besides the acquisitions, the REIT carried out several refurbishments within its hotels, as was the case of Hotel Sol Jandía, Sol La Palma and Alegría Costa Ballena hotels. The overall investment in this add-value strategy was 15.45 million euro.

For the new year, the company plans to invest in Portugal with the opening of 3 new units, according to Victor Martí the company’s director, in an interview to daily newspaper Eje Prime at the beginning of January.

Atom Hotels closed 2019 with revenues of around 33.4 million euro, «all from hotel leases». The same report revealed that its consolidated profit reached 3.2 million euro and the EBITDA 25.3 million euro.

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