Atom Hoteles Iberia has secured a €211.5 million loan with a consortium of banks led by BBVA, Santander and Abanca.
Other participants in the financing include Banco Pichincha, BCCJmar, Unicaja, Sabadell, Santalucia, Mora Bank and Banco Cooperative.
The loan has a maturity of seven years, with 85 per cent of the principal paid at maturity and a margin of 2 per cent on Euribor.
The company will use the new cash to refinance a €198.7 million loan as well as to complete the improvement of its hotel properties.
At the end of 2022, Atom’s portfolio value - comprising 28 hotels - stood at €782 million. The company achieved EBITDA of €46 million, up 34% compared to 2021 and profit grew to €27.2 million from €15 million. Net debt was €313 million.