The financial entity CaixaBank has granted the largest hotel loan in the history of Spain. The RIU group has received 825 million euros for the purchase of 49% of 19 establishments owned by the TUI tour operator and for the development of new business projects in Mexico and Senegal.
The group will have the necessary liquidity to deal with the purchase valued at 670 million euros, with which it will control 100% of the property owned by TUI Group by 49% and by the Riu family by 51%.
The RIU family has always stayed away from leverage, but the good situation of the company has allowed it to execute a record financing, precipitated by the difficult financial situation of its partner TUI. Nahomi Riu, the group's financial director, closed the agreement with CaixaBank in just two and a half months, which does not plan a mortgage guarantee.
