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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.

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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.