La Spanish Development Financing Company (COFIDES), through the Fund for Investments Abroad, has provided the necessary funding for Hotusa Group expand your hotel portfolio in United StatesThe total investment for the two projects is estimated at 77 million.
The total amount of the loans amounts to 29,1 millones de euros, broken down into 21,8 millones de euros intended for the acquisition of the hotel in Washington D.C. y 7,3 millones de euros for the property in Boston.
With this operation, Hotusa Group, which is positioned as the ninth hotel chain in Europe by number of establishments, will add to its offer the St. Gregory Hotel, a four-star boutique hotel located in the center of Washington D.C., as well as the Boxer Hotel Boston, another four-star establishment located in the emblematic neighborhood of West End.
These two new assets join the four hotels that the group already operates in New York, Miami and Chicago, thus strengthening its position in a market considered highly competitive and key to its international growth.
This collaboration marks the second joint project between COFIDES y Hotusa Group, which underlines a strategic relationship focused on facilitating the global expansion of the hotel sector Spain.
Miguel Ángel Ladero, corporate director of COFIDES, highlighted the importance of the operation: “We are very pleased to continue contributing to the growth of Hotusa Group, an reference in the sector which has demonstrated a solid track record in the international arena. This operation strengthens the group's presence in a key and highly competitive market such as the United States, and reflects COFIDES' commitment to promoting projects that bear the hallmark of our country's business talent and strengthen the image of the Spain brand".
For its part, Amancio Lopez, President of Hotusa Group, positively valued the support received, expressing: “our most sincere thanks to COFIDES for their support and trust in this new step in our journey. The granting of these loans represents a decisive boost to consolidate our project in the United States, a strategic market due to its institutional relevance, business dynamism, and tourist appeal. This collaboration not only strengthens our international expansion, but also It represents support for the talent and management capacity of the Spanish hotel industry abroad.We are convinced that, with allies like COFIDES, we will be able to continue carrying out the seal of quality and excellence of the Hotusa Group to new destinations, while contributing to project the Spain brand to the world".
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