- Through a loan of 825 million euros of capital, the RIU Group has obtained the necessary liquidity to make the purchase, valued at 670 million euros, which will also facilitate the development of new business projects in Mexico and Senegal.
- Once again, CaixaBank, a benchmark institution for the hotel and tourism sector through its specialised Hotels & Tourism division, reaffirms its commitment and support to the tourism sector as one of the fundamental and strategic sectors for Spain.
Palma, 23 July 2021
CaixaBank has financed the RIU Group for the acquisition of 49% of 19 hotels, owned by the tour operator TUI, which operate under the RIU Hotels & Resorts brand, and for the development of new business projects. Thanks to this loan of 825 million euros of capital, the hotel group will have the liquidity needed to make the purchase valued at 670 million euros, with which, as announced in May, it will control 100% of the properties that belong to TUI Group (49%) and the Riu family (51%). In addition, the transaction will enable the group to develop new business projects in Mexico and Senegal.
With this financing operation, CaixaBank, a benchmark institution for hotel and tourism companies, reaffirms its commitment to this fundamental sector for the country and once again demonstrates that it wants to continue to be a key player in its recovery, supporting its specific needs. The financial institution manifests this support through its CaixaBank Hotels & Tourism business line, which aims to boost the tourism market through a model of specialisation and close contact to hotel companies and businesses. Its specialisation and knowledge of the tourism sector has allowed CaixaBank to make specific support measures available to customers in the tourism sector over the past year, including the granting of liquidity lines and moratoriums, or grace periods on mortgage loans, in order to preserve companies’ liquidity as much as possible.
CaixaBank Hotels & Tourism: support to the tourism and hotel sector
CaixaBank Hotels & Tourism offers the hotel market a range of different products and services to help optimise the profitability of its business and simplify its daily activity. The addition of new specific products and services for the hotel market supplements the specialisation in the industry, taking into account the needs of the different subsectors: hotels, tourist accommodation and campsites.
CaixaBank Hotels & Tourism is also particularly sensitive to projects that contribute to environmental sustainability and social inclusion, such as those that incorporate improvements in energy efficiency, accessibility, water and waste management, or that promote the employment of people at risk of exclusion. In this context, CaixaBank stands out due to its responsible actions and this is acknowledged by the main international organisations. The Dow Jones Sustainability Index ranks it among the world’s best banks in terms of corporate responsibility.
CaixaBank Hotels & Tourism has agreements with more than 40 hotel federations and associations, such as the Spanish Confederation of Hotels and Tourist Accommodation (CEHAT); and it organises regular meetings with benchmark employers in the industry nationwide. In addition, the financial institution is a member of the World Tourism Organisation, the United Nations agency responsible for the promotion of responsible, sustainable and universally accessible tourism. This affiliation makes CaixaBank the first European bank to become an affiliate member of this international organisation, the leading organisation in the field of tourism. On 6 November, at its 42nd Plenary Session of Affiliate Members, the World Tourism Organisation presented CaixaBank with an award for its support and contribution to the tourism sector during the pandemic.