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CaixaBank to Lend €3bn to Hotel Sector

Posted by: In: Real Estate 15 Mar 2018 Comments: 0 Tags: , , , , , , , , , , ,
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15 March 2018 – Expansión

CaixaBank has declared the hotel sector strategic for increasing its credit investment. Through its new line of business CaixaBank Hotels & Tourism, the entity has just signed an agreement with the Spanish Confederation of Hotels and Tourist Accommodation (Cehat) to make available a specific financing line of €3 billion to its 13,000 establishments over two years.

The bank led by Gonzalo Gortázar closed 2017 having granted €1.5 billion in loans to the hotel sector, where it has a portfolio of 14,000 clients – two out of every three hotels in Spain – and €5 billion in terms of business volume. With the launch of the new division, CaixaBank expects to grow its loans to this segment by 20% during the first year.

Original story: Expansión

Translation: Carmel Drake

The post CaixaBank to Lend €3bn to Hotel Sector appeared first on Aura Real Estate Experts.

Source:: AURA Real Estate Experts

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