The fund, which focuses on investing in tourism and leisure (hotels and hostels) and which targets the Mediterranean Arc, will require a second round of financing to reach the maximum objective set by the company of €750 million. The fund’s total investment capacity will amount to around €1.2 billion, including equity and debt.
Azora European Hotel & Lodging already owns a portfolio of 9 hotels in Spain, located in Benidorm, the Costa del Sol and Ibiza, plus another in Sicily (Italy), which together contain more than 2,000 beds. The company also owns 4 hostels located in Madrid, Bilbao, Lisbon and Brussels, which are managed by Azora itself.
