The SEPI grants 241 million to the Hotusa Hotel Group: It did not have benefits for the Covid for the first time in 40 years

The State Society of Industrial Participations (SEPI) has announced the concession of 241 million euros to the Hotusa Hotel Group in a new operation of the Solv

The SEPI grants 241 million to the Hotusa Hotel Group: It did not have benefits for the Covid for the first time in 40 years

The State Society of Industrial Participations (SEPI) has announced the concession of 241 million euros to the Hotusa Hotel Group in a new operation of the Solvency Fund for Strategic Companies. The SEPI justifies the injection by the "Strategic" character of Hotusa by having 219 hotels and highlights that the bad times of the company are conjunctural so it does not use the term rescue at any time to describe the operation. "The crisis caused by the Covid has impacted the accounts of the Group, which, for the first time in its more than 40 years of history, last exercise did not throw benefits," says the Sepi providing a data that contrasts diametrically with its operation. Controversy to date, the rescue of Plus Ultra, which had never obtained benefits before the pandemic.

The Hotusa group presided by Amancio López, requested several months ago the support of SEPI and has accepted that it be channeled "through the granting of a participatory loan amounting to 190 million euros and another ordinary of 51 million euros", According to the statement of the State Society dependent on the Ministry of Finance.

The operation remains await for the foreseeable approvals by the Gestor Council of the Fund and subsequently from the Council of Ministers.

The SEPI ensures that "independent consultants have participated in this process, responsible for verifying compliance with eligibility requirements and analyzing the sufficiency of the measures raised in the viability plan presented by Hotusa", although it does not facilitate the names.

The Hotel Division of Grupo Hotusa is present in 17 countries and is composed of 219 establishments, 67% of which is located in Spain. He was born in 1977 with only three and is considered one of the success stories of the Spanish hotel sector. Among its brands, Eurostars.

As for its tourist service division, it has more than 4,300 associated hotels around the world, of which 1,567 are in Spanish territory. The group's turnover rose at the end of 2019 to 1,268 million euros. Before the pandemic, it had 4,085 employees, 72% in Spain.

With HotUSa, the number of SEPI operations grows in the tourism sector. It began with Air Europa (475 million), followed with Plus Ultra (53 million) and Ávoris (320 million).

Updated Date: 23 September 2021, 12:45

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