Kartesia invests in Iberian boutique hotel operator Hotelatelier
Kartesia, the European specialist provider of capital solutions for small and mid-sized companies, is pleased to announce its investment in Hotelatelier through its vehicle Atelier Hospitality Holding (“Hotelatelier” or “the Company”). Hotelatelier is Iberia’s leading urban boutique hotel operator with 38 hotels and more than 2,300 rooms in the main cities of Spain and Portugal, such as Madrid, Barcelona, Palma or Porto.
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 is the undisputed boutique hotel operator in Madrid with 20 hotels. The Company operates under 2 brands, Petit Palace and ICON Hotels. Hotelatelier stands out for providing unique experiences for its guests thanks to the superb location of its hotels, superior service from its highly committed staff, modern comfortable rooms and excellent F&B offering. The Company has been awarded the Best Place to Work in Spain in the hospitality industry for several years.
Tomás Neuhaus, Partner at Kartesia said: “Hotelatelier is already the leading hotel platform in the growing urban leisure segment in Spain, which makes it a unique strategic asset given the scarcity of prime locations in Madrid, Barcelona or Málaga. Together with the management team and the other shareholders led by Cristian Andersen, we plan to further grow and invest into our asset base to offer an even better experience to our clients. Finally, this is also an opportunity to develop together with the management the sustainability vision that Kartesia has for Hotelatelier.”
Cristian Andersen, Chairman of Hotelatelier added: “We are very pleased to partner with Kartesia in this new venture, Kartesia has been a great support for the company in recent years, providing us financial stability. We believe that with their leadership and vision, in this new phase we will be able to untap the full potential of the company.”
Ignacio Urbelz, newly appointed CEO, declared: “I’m thrilled to step into the role at such a pivotal time for our company. With a dedicated team, supportive shareholders and a clear vision of where we want to go, I’m excited about the limitless possibilities ahead of us to create lasting value for our stakeholders.”