Millennium, the socimi luxury hotel company in Spain and Portugal, has reached a strategic agreement with Sancus Capitala firm dedicated to asset management within the field of real estaterenewable energies and venture capitalfor their potential incorporation as a shareholder of the Company and their involvement in the definition, management and execution of the company’s strategy. socimi. This alliance contemplates proposing to the next General Meeting of Shareholders the appointment of Borja Escalada as new CEO, as reported by the company today in a statement to BME Growth. Likewise, Sancus has confirmed its interest in becoming a shareholder by acquiring up to 10% of the capital from the formalization of the agreement and has committed to channeling any new operation in the luxury and ultra-luxury hotel sector.
With this decision, whose objective is the creation of value for shareholders, the socimi It incorporates as its main executive the partner and administrator of Sancus, who has extensive experience in investment and asset management, to such an extent that it has become a benchmark in the field of luxury and ultra-luxury hotel management.
In the hotel sector, his time as CEO of RLH Properties stands out, a company listed on the Mexican Stock Exchange and a leader in its sector, which multiplied its value after going public, consolidating its reputation for excellence and leadership through formalization strategic acquisitions in both Mexico and Spain; the active management of its hotel and residential establishments; as well as their innovation and renewal.
Currently, Borja Escalada himself is a partner and main executive of the Sancus Capital Partners group, owner through the Sancus Hotels vehicle of Rosewood Villa Magna and Bless Madrid, two assets that have also multiplied their value since their acquisition, thanks to the strategy and the management that he has carried out together with his team, and that are left out of this strategic agreement between both companies.
This alliance, ultimately, will allow the accredited experience and knowledge of Sancus Capital and Borja Escalada in this area to be combined with the capabilities and asset portfolio of Millenium Hospitality Real Estate.
“We are very excited about this strategic alliance, which seeks to turn MHRE, a company with great potential, into the reference company in the luxury and ultra-luxury hotel sector in Europe, and thereby increase the generation of value to the shareholders of the SOCIMI itself,” explained Borja Escalada.
For his part, Luis Basagoiti, who will continue to perform his role as non-executive Chairman of the Board of Directors, has indicated that “this alliance marks the beginning of a new stage, which will reinforce the strategy and value of the company in a growing sector, What is the hotelier like?
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