101
52
27
199
85
105
126
38
76
188

hospitality Market News: Spanish Real Estate Intelligence

Cerquia's Directors Launch New Hotel Development Company: Xpandia

14 February 2018 - Eje Prime

The managers of Cerquia have set their sights on achieving five stars. Carlos Cercadillo, Javier Pérez Picallo and Jesús Salinero, all senior members of the Spanish company, have teamed up with a group of investors to leap into the hotel sector. The executives have launched Xpandia Projects, a company specialising in hotel development with a focus on Spain and Portugal, according to Pérez Picallo, CEO of Cerquia, speaking to Eje Prime.

Picallo will be in charge of the new project, although he will also continue in his position at Cerquia, as will Cercadillo, who is the President of the company and Salinero, who leads the expansion department.

“The hotels will be urban properties and they will be handed over turnkey-style to the operators”, explains the CEO of the company (...). The objective of the property developer is to hand over 800 rooms over the next three years. For the time being, the company is going to work on three projects, two in Lisbon and one in Valencia. The latter, located on Calle Guillem de Gastro, is on the verge of being granted its licence, with the aim of being completed and ready for delivery in 2020. In the case of the Portuguese assets, the delivery will take place in 2018 and 2019, respectively. In total, these three hotels will place 386 rooms on the market. Some of the major operators for which the firm is going to work include groups such as Accor, Iberostar, Hotusa, Vincci and B&B.

The development of the assets will be undertaken through both the renovation of buildings, as well as the construction of new build properties. The first project in Valencia and one of the projects in Lisbon involve the complete renovation of two properties. In addition, during this first phase, the company has pre-agreements to develop hotels in Madrid, Valencia, Alicante, Sevilla, Málaga, Bilbao and Donostia.

Xpandia is not planning to accumulate assets itself. “We will not hold onto the assets, instead we will sell them to investors who will operate them after we complete the building work”, explains Picallo, adding that “in some cases, we will hand over the hotels completely decorated and furnished”. The only hotel that the new company will own is a property in Lisbon, currently owned by Cerquia, which will be transferred from one portfolio to another. Despite the obvious synergies between the group and the property developer, “this is a project that will operate outside of Cerquia”, said its CEO.

The property developer will work on all stages of the projects from the location and selection of the properties to the drafting of the technical plans and the organisation of the construction work. Location wise, the properties will always “be in cities, primarily in central areas, to respond to the tourist interest that operators demand”, says Picallo. The property developer will study 100 potential projects per year.

The company is not going to work in Barcelona for the time being. Although the Catalan capital is the most touristic city in Spain, the property developer considers that “there is too much uncertainty around obtaining hotel licences in the city” (…).

During this first phase, the hotel operators that Xpandia is working with are expected to invest around €30 million. The hotels that the company is going to develop will be 3- and 4-star properties.

The group driving the project, Cerquia, is a company dedicated to the management and operation of its own real estate assets. The company, created in 2006, has offices, hotels and homes for rent in a portfolio that spans a surface area of approximately 20,000 m2 in the office sector alone across the Iberian Peninsula.

The firm’s clients include companies such as Banco Santander, Uria Menéndez, Garrigues, Catalana Occidente, Hoteles Vincci,  Bausch & Lomb, Intermoney, Worx, Lycamobile and Shine Ibérica, amongst others. For 2018, the group’s roadmap is to maintain its activity and continue with the progress of its three residential developments.

Original story: Eje Prime (by Jabier Izquierdo)

Translation: Carmel Drake

 
Orenes Buys Rest of Gran Casino Extremadura for €6M

6 February 2018 - Infoplay

The Gran Hotel Zurbarán de Badajoz, which houses Casino Extremadura, is changing hands once again three years after it was acquired by the Extremeñan bullfighter Miguel Ángel Perera (who is from Puebla del Prior and who now lives in Olivenza) and his partner Miguel Moreno, son of Gregorio Moreno Pidal. They have just sold the property to a group of businessmen from the hotel sector with a strong and consolidated presence in Badajoz. According to sources close to the operation, the new owners are the company Orenes, José Luis Iniesta, from the company that owns the Río de Badajoz Hotel Complex, and a third partner based in Madrid.

La Crónica de Badajoz newspaper reported a figure of €6 million changing hands and added that Orenes and Río were until now owners of the facilities of the Gran Casino Extremadura, for which they obtained the concession to operate from the Junta de Extremadura, as the owners of the only five-star hotel in the city, managed by NH. It just so happens that José Luis Iniesta, a businessman in the hotel and farm sectors and owner of Hotel Río – which is currently linked to the hotel room management company Mercure – has divested his shares in the Gran Casino company.

The businessman has sold his shares to his partner Orenes, for a figure of around €6 million. In this way, Orenes now owns 100% of that company, whilst Iniesta holds 100% of Río, according to the same sources.

The Gran Hotel Zurbarán sale operation was carried out by private contract on 27 December 2017 but has not yet been notarised as it is pending approval from the competition authorities. In this way, Orenes and Iniesta hold onto 80% of the ownership of the Gran Hotel.

Original story: Infoplay 

Translation: Carmel Drake

 
Only-Apartments Creates 'Cerbium Holding' After Buying Tech Firm TBD

7 February 2018 - Eje Prime

Only-Apartments is starting a new phase. The tourist apartment rental platform has carried out a non-monetary capital increase to purchase the technological company Texting Big Data (TBD) for €1.5 million. Following the operation, the company will create Cerbium Holding, which is what the company will now be called.

Listed on the Alternative Investment Market (MAB), the general shareholders’ meeting of the real estate company approved the issue of 703,990 new shares to finance the acquisition of 100% of the share capital of TBD. By virtue of the agreement, the majority shareholders of the technology firm, Guillem Junyent, Pier 46 and Wecap Barcelona, will now be shareholders of the new holding company, according to Expansión.

Moreover, Only-Apartments has expanded its Board of Directors with the inclusion of two of TBD’s other shareholders, Ángel Cánovas and Sajama Invest, who will accompany the proptech's cofounders, Alon Eldar and Elisabet Cristià (pictured above), as well as Jaime Buxó. Meanwhile, Juan Marín has resigned from the Board.

Following this operation, the holding company will have two lines of business: the traditional arm, linked to tourist accommodation; and the new technological branch, which will offer technological consultancy and management services, amongst other activities.

Original story: Eje Prime

Translation: Carmel Drake