KPMG Abogados and A&O Shearman advise on the acquisition of Hotelatelier
KPMG Abogados and A&O Shearman have advised on the acquisition by Kartesia of the whole stake in Hotelatelier (Hoteles Tecnológicos 2010 and subsidiaries), a group which operates up to 38 hotels and owner of the hotel trademarks “Petit Palace” and “Icon”.
The acquisition saw several of the previous families and founding managers reinvesting part of the proceeds into the new transaction. Banco Santander underwrote a senior facility to refinance the outstanding debt at the level of the operating entities, reinforcing the balance sheet with long-term capital, including a committed line for capex or acquisitions.
Kartesia and the other shareholders plan to pursue further growth opportunities and accelerate the international development of Hotelatelier, leveraging its know-how and expertise in hotel operations and providing a profitable alternative for real estate owners.
Hotelatelier currently has a portfolio of 38 hotels and more than 2,300 rooms throughout Spain: Madrid (20), Barcelona (3), Valencia (2), Seville (5), Bilbao (2), Mallorca (3) and Malaga (2), as well as one in Porto (Portugal). Of these, 30 operate under the Petit Palace brand and 8 under the Icon banner.
The legal team from KPMG Abogados, which provided legal, labor and tax due diligence assistance to Kartesia on the transaction, was formed by Rafael Aguilar, corporate law and M&A partner, together with Guillermo Obradors, corporate law and M&A senior associate; Francisco Fernández (labour partner) and Guillermo Alonso (senior manager of the labour practice); and Pilar García (tax partner) together with Esther Martín (senior manager).
A&O Shearman have also advised Kartesia, with a team formed by lawyers from the banking area: Juan Hormaechea, Nuria Castro, Joan Carbonell and María Ramos. From corporate and M&A: Ignacio Hornedo, Patricia Figueroa, Cristina Palau, Andrea Lisnier and Estrella Gómez. From antritrust: Enrique Ferrer and Andrea Salgado; from employment: Jose Antonio Segovia and Jaime Lloréns, and from tax: Ishtar Sancho Escudero, Juan José Sánchez and Marina Granada.
