24 October 2019 – The Millenium Hotels socimi is in the midst of negotiations to acquire the former Asturias hotel on Madrid’s Plaza de Canalejas from the Hong Kong-based fund Platinum. The property, which includes two adjacent buildings with a total area of about 13,000 square meters, is reportedly worth 80 million.
It is believed that Marriott, which intends to open its first Marriott W hotel in Spain’s capital on the site, will invest another €25 million to renovate and tailor the asset to conform to the brand’s exigencies.
The future 5-star hotel will have 136 rooms on seven floors.
Original Story: Expansión – Rebeca Arroyo
Adaptation/Translation: Richard D. K. Turner
5 July 2019 – Richard D. K. Turner
Millenium Hotels Real Estate Société debuted yesterday, July 4, on the Alternative Stock Market (MAB), valued at 250 million euros. The company immediately entered the ranks of the ten largest listed socimis on the stock exchange. A favourable valuation report set the share price (“YMHRE’) 5 euros.
Millenium Hotels is a Spanish socimi that focuses on the acquisition of hotel buildings to lease to dedicated. The firm has an investment capacity of 500 million euros, which it intends to deploy fully within the next eighteen months. Millenium currently owns five assets, two of which are already in operation.
Original Story: Europa Press
26 March 2019 – El Confidencial
A new hotel giant is getting ready to make its stock market debut. Millenium Hotels, the platform that Javier Illán has been growing for the last two years, has just received approval from Spain’s CNMV to make the leap onto the stock market before the summer. The company will begin a road show with investors in April, with the aim of making its debut between the end of June and the beginning of July.
Millenium Hotels will start by trading on the MAB, before moving onto the main stock market once it is sufficiently large enough. The firm owns eight assets, including the 4-star Hotel Vía Castellana in Madrid, and has already received funding amounting to €100 million from mutual, insurance companies and family offices. Moreover, it is negotiating the purchase of four more properties.
Original story: El Confidencial (by R. Ugalde)
Translation/Summary: Carmel Drake