Press Release

Residencial Marina registers a new 50 million Euro Commercial Paper Programme on MARF

16 October, 2024

Residencial Marina, the holding company of the Matutes Companies Group and Palladium Hotel Group, has registered a new commercial paper programme in the Spanish fixed income market of Bolsas y Mercados Españoles, MARF, for an amount of 50 million euros. The commercial paper to be issued under this programme will have unit notional amounts of 100,000 euros, will be aimed at qualified investors and will have maturities of up to 24 months.

Banca March participates as Registered Advisor of the programme and the Placement Entities in the programme will be Banca March itself and Renta 4 Banco.

Cuatrecasas has collaborated as legal advisor to the issuer in the registration of the programme.

The Matutes Group, headed by Residencial Marina, has more than 50 years of history and consists of various business lines, including the hotel sector, which accounts for almost 70% of the Group's turnover, followed by leisure and events organisation, construction materials, real estate and others.

The hotel business was started in the 60s in Ibiza by the businessman Abel Matutes Juan, with the aim of designing the most exclusive accommodation where luxury, quality and the best service were the main pillars. The Group's first steps were in the Balearic and Canary Islands and in the early 90s it continued its growth with the opening of several resorts in the Caribbean. In 2000, this group of hotels was grouped under the name Fiesta Hotel Group and in 2012 the Group renewed its corporate image, becoming Palladium Hotel Group. It currently manages around 14,000 rooms in Spain, Mexico, Dominican Republic, Jamaica, Brazil and Italy, where it operates under the commercial names TRS Hotels, Gran Palladium and Palladium Hotels & Resorts, Ushuaïa Ibiza Beach Hotel, Bless Collection Hotels, Only YOU Hotels and Hard Rock Hotels.

At the end of 2023 Residencial Marina achieved a consolidated turnover of 1,104.1 million euros and an EBITDA of 277.9 million euros.

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