Andbank Launches New €200 Million Fund to Invest in Hotels in the Balearic Islands, Canary Islands and Costa del Sol
The Andorran financial institution plans to acquire six three- and four-star hotels in some of Spain’s leading tourist destinations
Andbank has strengthened its commitment to the hotel sector with the launch of a new investment fund that aims to mobilise €200 million in capital and financing to acquire hotels in Spain.
The objective is to invest in properties located in the Balearic Islands, the Canary Islands and the Costa del Sol, three of Spain’s most in-demand tourism markets.
The new investment vehicle, called the Actyus Hospitality Fund II, has been notified to Spain’s National Securities Market Commission (CNMV) and continues the strategy launched by the institution in 2020 with the Atalaya fund, developed jointly with Navis Capital and THB Hotels.
That first operation mobilised around €120 million for hotel investments.
Target: Five to Six Hotels
According to Max Hap, Andbank’s head of hotel investments, who spoke to El Confidencial, the new fund plans to acquire between five and six three- and four-star hotels in destinations with strong tourist demand and significant potential for value appreciation.
The investment strategy will combine equity and financing, with the aim of identifying assets where value can be created through modernisation, repositioning or improved operational management.
The initiative represents a further expansion of Andbank’s presence in the Spanish hotel investment market, focusing on established tourist destinations where the institution sees opportunities to increase the value of existing hotel assets.
