The Hotel Socimi Elaia Earned Double and Invoiced 40% More in 2019

24 Abril 2020 – Brainsre.news

Elaia Investment considers that it is ‘extremely difficult’ to evaluate the impact of the pandemic crisis on its business this year.

The Socimi Elaia, which specialises in hotel assets, closed 2019 with a profit of €5.2 million, whereby doubling the result recorded in the previous year, when it earned €2.4 million. Elaia considers that it is “extremely difficult” to evaluate the impact of the pandemic crisis on its business this year.

The divestment process of the company, which is controlled by the Luxembourg group Batipart, has a lot to do with these results. Swiss Life Asset Managers acquired two hotels in Mallorca -Icon Valparaíso and Vistama-, one hotel in Gerona (Monterrey) and an apartment complex in Menorca (Eden Binibeca), which according to market sources are worth more than €50 million.

Original Story: Brainsre.news

Translation/Summary: Carmel Drake

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