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Advisory services to Intriva Capital on €20 M financing to reopen the former Byblos Hotel

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  • Arcano has granted partial financing for the refurbishment through the Urban Development Fund “Impacto Andalucía”.
  • The project will involve the reconstruction, rehabilitation and expansion of the emblematic former Byblos Hotel that has been closed since 2010
  • Colliers previously advised Grupo Ayco in the sale of the former Byblos Hotel to Intriva Capital in May 2019.

Colliers, a leading global consultancy firm in advisory services and investment management in real estate, has advised the international fund Intriva Capital in obtaining €20 million of financing that will be used to reopen the emblematic Byblos Hotel in Mijas.

The Urban Development Fund "Impacto Andalucía", managed by Arcano Capital, has granted part of the financing necessary for the reconstruction, recovery, and relaunch of the former hotel, which has been closed since 2010. The funds for this vehicle predominantly come from the European Regional Development Fund (ERDF) and the Junta de Andalucía, complementing its focus on investment into urban development projects in the Andalusian autonomous community.

The project will be managed by Grupo Marugal under a franchise agreement with “The Unbound Collection”, by the Hyatt Group. The reopening of the iconic hotel is scheduled for the end of Spring 2022. Marugal is a Spanish Hotel Management group that currently manages emblematic hotels such as Cap Rocat Hotel in Mallorca; Akelarre Hotel in San Sebastián; and Urso Hotel in Madrid.

The landmark hotel has always been considered a beacon of prosperity in the region and the urban development project that will enable its reopening is of special importance for the city of Mijas and the surrounding areas. The project will add value to disused infrastructure, promote tourism in the municipality, generate employment and attract international tourists by reinforcing the area’s reputation as a high-quality destination.

“Since the arrival of the pandemic, the processes of seeking financing in the hotel sector, has been challenging. As traditional bank financing for new projects has been absent, we have had to look for alternative sources and solutions. In the case of the old Byblos Hotel, we had many factors on our side: a top-level project in an unbeatable location, a sponsor with demonstrated capacity, as well as a manager and a brand with an unquestionable plan to attract customer demand that will once again, place the hotel as reference point across Europe,” – says Laura Hernando, Managing Director of Hotels at Colliers. 

 


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Laura Hernando

Managing Director

Madrid

Laura Hernando is Managing Director of the Hotels Department at Colliers International Spain. She was  partner of irea from January 2017, when she was appointed to partner after more than ten years of professional career at the firm, until March 2018 when irea joined Colliers International. She specialises in advising on hotel sales, as well as on the sale and purchase of debt portfolios secured by hotel assets and company sales. She also has experience in structuring financing for the acquisition and development of hotels, in financial restructuring for hotel and real estate groups and in strategic consultancy for companies with interests invested in the hotel sector, including the negotiation of management contracts with hotel chains.

She began her career as an analyst in the mergers and acquisitions department at Atlas Capital Close Brothers. Laura joined the irea Hotels division in 2005.

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Alejandra Folgado

Marketing & Comms. Director Spain & Portugal

Madrid

As Marketing and Communications Director Alejandra is responsible for building a marketing and Comm. strategy that grows brand awareness; drives lead generation and works across business lines to support Colliers International in Spain  achieve its growth and customer acquisition goals.

She began her career at Atlas Capital Close Brothers in 2001 and joined to irea in 2006, where she was Knowledge & Organization Manager for almost 4 years. After a 5 years  of professional and personal experience in Italy, she returns to irea as Marketing & Communications Manager.

From January 2015 she has been Head of Marketing and Communications at irea until March 2018, when the spanish firm integrates in Colliers International.

Alejandra studied at Carlos III University (Madrid)  where she has a bachelor degree in Information Sciences. She holds an International Marketing and Communications Master from Polimoda Business School (Italy).

She has worked in Marketing and PR across various industries including Financing, Real Estate, Fashion and Hospitality. Alejandra  also has experience in managing and coordinating  events including conference, congress and trade fairs.

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