Sancus Capital, the management company led by Borja Escalada, has decided to extend by three business days the period available for Hotei shareholders to attend its Public Acquisition Offer (OPA) of 371 million euros, launched over 100% of the capital of this socimi focused on luxury hotel establishments.
Thus, the deadline to accept the operation will not end on September 16, as initially set, but on September 21, according to the company has notified BME Growth, the market in which it has been listed since July 2019, when it operated under the name Millenium Hospitality.
Borja Escalada currently serves as CEO of Hotei, a position he assumed in November 2024 after the agreement reached between the socimi and Sancus for the latter's entry into its shareholding. Hotei's capital also includes Castlelake, with nearly 50% of the shares; Arconas International, with 8%; and Mutualidad General de Previsión de la Abogacía, with approximately 5%.
Sancus, which is also the owner of the hotels Rosewood Villa Magna and Bless Madrid, closed last June a deal with Castlelake and other partners to acquire 53.5% of the socimi for 198 million euros, extending that offer to 100% of the capital until reaching a total amount of 371 million.
This Friday, Hotei has also released its results for the first half, in which it reports revenues of 11 million euros between January and June 2026, an 18% decrease compared to the same period of the previous year, and a net profit of 6.4 million euros, which represents a 78% decline.
However, the company emphasizes that these figures are not directly comparable to those of 2025 due to the sale of the hotels Meliá Bilbao, Radisson Collection Bilbao, and Fairmont La Hacienda de San Roque (Cádiz), operations that have reduced rental income derived from these assets. If these divestments were excluded, revenues would have increased by 8%.
The semiannual accounts also reflect a gross operating result (Ebitda) of 4.96 million euros, a gross portfolio value of 477 million, an LTV ratio (debt-to-asset value ratio) of 19.6%, a gross cash of 79.5 million, and an average occupancy of its properties of 71.8%.