MARF today registered a new commercial paper (CP) programme by Hoteles Turísticos Unidos (HOTUSA). Through this new financing tool, the company may issue, over a year, individual tranches of CPs with nominal per-unit amounts of 100,000 euros, maximum terms of 24 months and an outstanding volume of 50 million euros.
Banco Santander, Banco Sabadell, Bankinter and JB Capital Markets will act as the Programme’s Bookrunners. PKF Attest is the Registered Advisor of HOTUSA and J&A Garrigues has legally advised the issuer on the programme’s launch and registration with MARF.
HOTUSA has a BB, positive outlook rating granted by rating agency Axesor.
Hoteles Turísticos Unidos is the parent company of the HOTUSA Group. The company was founded in 1977 after three independent hotel companies joined forces, to which new hotel chains and establishments have gradually been added during its 40 years of operations. As a reservation center HOTUSA currently represents over 100,000 hotels worldwide and today is a major marketplace in the hotel reservation industry in the world.
The main business areas of HOTUSA are: (i) the tourist segment, made up of different companies oriented to the provision of hotel-based services, and (ii) the hotel segment, dedicated to the exploitation of owned and leased hotels, which last year comprised 185 hotels.
At the end of 2017, the total turnover of the HOTUSA Group reached 1.1 billion euros, with EBITDA of 133 million and an annual average number of employees close to 3,500.