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Banco Santander to Sell €136 Million in Loans to Hesperia

The loans have eleven hotels and an office as collateral and are up to date with payments, so any discount on the sale would be small.

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Banco Santander will sell loans granted to the Hesperia hotel chain for 136 million euros. These loans are up to date with payments and have eleven hotels and some offices as collateral, according to El Confidencial. Interested parties include Apollo, Bain Capital and Bybrook.

The hotel chain has already restructured its debt in the past, and during the pandemic it operations suffered. As a result, it asked SEPI for €55 million in aid and has yet to receive a response.

The hotels backing the debt with Santander are La Manga Club in Cartagena, Hesperia Murcia, Hesperia Lanzarote, Hesperia Cordoba, Hesperia Sant Joan in Barcelona, Hesperia Bristol in Fuerteventura, Hesperia Villamil in Mallorca, Hesperia Barri Gòtic, Hesperia Sant Just, Via Agusta Premises, Hesperia Sevilla and Hesperia Zaragoza.

In 2019, Hesperia earned 137 million euros, with a profit of 15.5 million euros. In 2018, the chain had debts of €200 million.

Read the full article in Spanish

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