The trickle of tourist companies that request help from the Fund to Support the Solvency of Strategic Government Companies is continuous. The last to join the list was Soho Boutique Hotels, the hotel chain run by Gonzalo Armenteros de Dalmases, president, and Antonio Gordillo, CEO, according to market sources familiar with the process.
The group from Malaga has requested, according to the same sources, 30 million euros from the fund of the State Company for Industrial Participations (SEPI).
Soho Boutique Hotels has nearly thirty hotels and apart-hotels in Spain (22), Mexico (two, the Soho Boutique Holbox and the Moon Dreams Holbox) and Portugal (one, the Aqua-Mar Moon Dreams), mostly 3 and 4 stars. In the Spanish market, it has eight establishments in Malaga (Los Naranjos, Bahía Málaga, Las Vegas, Apartamentos Museo, Málaga, Colón, Moon Dreams Calabahia and Urban), three in Puerto de Santa María, Cádiz (Vistahermosa, Vistahermosa Apartamentos and Puerto ), two in Madrid (Opera and Congress), two in Salamanca (Canalejas and Salamanca), one in Ronda (Palacio San Gabriel), one in Jerez (Jerez & Spa), one in Oviedo, one in Seville and two in Cáceres ( Casa Don Fernando and the Plaza Mayor Apartments).
The company recorded a debt in 2019 of more than 25 million euros
At the end of 2019, Tenedora de Valores Océano Pacífico, owner of the Soho hotels, recorded a profit of 1.5 million euros, almost 50% more than in 2018. The crisis caused by the pandemic, which has sunk tourism activity , has led the group to resort to SEPI to obtain financing in the current environment. The company had a debt in 2019 of more than 25 million euros.
Soho becomes the fourth hotel chain to request help from the State through the Solvency Support Fund for Strategic Companies. In recent weeks, Hotusa, , and Grupo Abades have also done so, which has several hotels and service stations among its businesses. Other tourist groups that negotiate the support of SEPI are , Naviera Armas, Wamos, Globalia-Ávoris (Barceló), Pangea or the Julià Group To date, the only rescue approved by the state company has been that of Air Europa. Industrial groups such as Duro Felguera, Celsa, Airtificial, Tubos Reunidos, Losán and Rugui Steel, Holmes Place gyms or Global Exchange are also waiting.
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