Bain Capital and the real estate firm Stoneweg have offered 460 million euros to acquire the Selenta hotel chain, according to El Economista. This offer is the highest yet, ahead of those submitted by Goldman Sachs and the Canadian investment manager Brookfield.
The hotel chain’s indebtedness had already exceeded 200 million euros before the pandemic. In February, it borrowed another 50 million euros from Sepi and sold the Nobu hotel in Barcelona for €80 million.
In 2019, Selenta had a turnover of 152 million euros. Counting this as the last year with normal cash flow, the joint venture between Bain Capital and Stoneweg is valuing the chain at three times its normal turnover.
The sale involves a portfolio of 2,600 rooms in Tenerife, Barcelona, Marbella and Valencia.
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