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Millenium Hotels prepares to enter MAB in July
03 June 2019 | Vanessa Sousa

REIT Millenium Hotels should enter Spanish Mercado Alternativo Bursátil (MAB) next July.



While still preparing the paperwork, the company decided to renew its board, appointing José María Castellano, ex-vice-president of Inditex Group and who also became a shareholder of the company, as proprietary director.

This appointment, in particular, meets the REIT’s CEO Javier Illán’s mid-term goal of entering Madrid’s continuous market, reports El Confidencial.

The REIT’ board also has two independent members: Jaime Montalvo, Mutua Madrileña’s vice-president and Isabel Dutilh, founding partner at Argali Abogados.

To carry forward the listing at MAB, the company’s new board approved this month a 300 million euro capital increase, in order to acquire more assets.

Currently, the company has a portfolio which includes five luxury hotels: two operating in Madrid and three under rehabilitation, two of which in Seville and one in Bilbao.