Frasers Centrepoint acquires Spanish hotel firm

Frasers Centrepoint subsidiary FCL Limited has acquired Spanish hotel company Teycotel BCN for 948,000 euros (approximately $1.3 million). Teycotel BCN is the owner of Hotel Porta Marina in Barcelona. It also holds all the shares in Teycotel Gestio Hotels, the operator of the hotel.

The Business Times reports that the purchase price took into account the net tangible asset value of Teycotel BCN as at March 31, 2014 of approximately 877,000 euros, and is payable in cash and funded from internal sources.

As part of the acquisition, Frasers Centrepoint, through a shareholder's loan to Teycotel BCN, has procured repayment of outstanding loans and debts owing by Teycotel BCN and Teycotel Gestio amounting to approximately 4.528 million euros.

Virtual Roundtable

Post COVID-19: The New Guest Experience

Join Hotel Management’s Elaine Simon for our latest roundtable—Post COVID-19: The New Guest Experience. The experts on the panel will share how to inspire guest confidence that hotels are safe and clean and how to win back guest business.

 

Read more on

Suggested Articles

Insurance companies believe that COVID-19-related losses should not be included in business interruption coverage, but the issue is far from settled.

The MMGY Global Travel Safety Barometer measures Americans’ perceptions of safety on a scale from 0 (extremely unsafe) to 100 (extremely safe).

Year-over-year declines remain significant although not as severe as the levels recorded in April.