According to its predictions, the REIT will achieve the necessary requirements to enter the Madrid Stock Exchange in 2022, when the Spanish company dedicated to the hotel market is expected to own a portfolio estimated at 1.000 million euro, reports Spanish newspaper Expansión in its print edition.
For now, the REIT has five luxury hotels, two of them already operational– Hotel Via Castellana, in Madrid and Hotel Eurostars Lucentumm, in Alicante – the other three are still under construction. Two of them are located in Seville and one in Bilbao. These last three should start their activity in 2020, according to the same newspaper.
In order to reach that 1.000 million euro portfolio, the young REIT is already looking for new investment opportunities, not only in Spain, but also in Portugal. In Spain, new cities and holiday destinations are under Millenium’s radar, such as San Sebastián, Barcelona, Valencia, Malaga, Granada and Cordoba. The reinforcement of its presence in Madrid, Seville and Bilbao is also on the table.
«In Portugal, we have a project already signed for Lisbon, which is subject to several constraints and we are interested in Porto and the Algarve», reveals Javier Illán, Millenium’s president and CEO in an interview to newspaper Expansión.
In order to follow through with this plan, the company’s board approved a 300 million euro capital increase.