Catalonia Hotels & Resorts has secured €383 million in financing from BBVA, Santander, CaixaBank and Banco Sabadell to support its strategic plan, the company said on Friday, 17 July.
The agreement extends the terms of existing debt, improves financing conditions and provides additional liquidity, meaning cash available for investment. For Barcelona’s hotel sector, the stated investment focus is overseas: the announcement names planned resort projects in Zanzibar, Tanzania, and Jamaica, rather than a named scheme in the city.
The operation is intended to reorganise the group’s debt and release mortgage guarantees on a significant part of its assets.
Four-bank agreement combines refinancing and investment funds
The €383 million agreement was reached with the four lenders that have historically supported the group’s growth: BBVA, Santander, CaixaBank and Banco Sabadell.
According to the company’s latest filed accounts for 2024, reported by El Periódico, Catalonia Hotels had €641.5 million in loans, both with and without mortgage security, plus €16 million in leasing commitments. Those liabilities had staggered maturity dates between 2025 and 2038.
Zanzibar resort is planned to have 272 suites
The additional funds are principally intended for new investment and to accelerate two international projects, the company said. One is the Catalonia Grand Zanzibar All Suites & Spa, the group’s planned first resort in Africa.
- The Zanzibar resort is planned to have 272 suites, including two over-water villas.
- Plans include an 800-square-metre swimming pool.
- The proposed spa would cover 1,600 square metres.
- Catalonia Hotels also plans a resort project in Jamaica.
The announcement does not give opening dates for either the Zanzibar or Jamaica developments.
Reported by Source Text Link, elperiodico.com, expansion.com, eleconomista.es, hospitalityinvestor.com, BBVA, cuatrecasas.com, cincodias.elpais.com, villanuevaortiz.com, admin-catalonia, Exa, Redacción, Pilar Martínez, Europa Press Barcelona.
