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Tuesday, May 21, 2024

RyC advises SEPI on €31m state aid granted to Meeting Point hotels

Ramón y Cajal Abogados has advised SEPI on the granting to the hotel chain Meeting Point of state aid in the amount of €31 million from the State Fund to Support the Solvency of Strategic Companies.

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The aid granted to Meeting Point amounts to €31 million, which will be channelled through the granting of a participative loan of €20.7 million and an ordinary loan of €10.3 million.

With this one, 15 Spanish companies linked to tourism have already received state funds from SEPI. The term of the Solvency Support Fund for Strategic Companies ends on 30 June.

Meeting Point Hotels, founded in 2015, has a portfolio of more than 60 hotels and 14,000 rooms in eight countries. It operates through the brands Design Plus Hotels, KAIRABA Hotels & Resorts, Lemon & Soul Hotels and LABRANDA Hotels & Resorts. It belongs to the FTI Group, Germany’s third largest tourism group. The company’s Spanish subsidiary, Meeting Point Hotels Spain, is based in Maspalomas (San Bartolomé de Tirajana, Gran Canaria) and, in addition to offering incoming services, operates more than 20 hotel and extra-hotel assets in Spain (all of them in the Canary Islands).

Ramón y Cajal´s team was led by Financial Regulation partner Cristina Vidal, together with Commercial partner Alfonso Cárcamo and Finance partner Javier Menchén Calvo, and lawyers Saúl Dávila Ávila and Francisco Javier Mingorance Maroto.

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