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Millenium Hotels was given the green light to enter the Spanish alternative stock market
27 March 2019 | Vanessa Sousa

Young REIT Millenium Hotels, specialised in luxury hotels, obtained the green light to enter the Mercado Alternativo Bursátil (MAB). It was last week that the Comisión Nacional del Mercado de Valores (Stock Market National Committee) announced the decision.

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Before the company’s listing at MAB, which is expected to start at the beginning of the Summer, its owner Javier Illán intends to expand its portfolio. Currently, Millenium Hotels already has eight hotels, among which the Vía Castellana hotel in Madrid, but the goal is to add four more, which are currently being negotiated. The company will thus enter MAB with a 12 asset portfolio and a 500 million euro investment capacity, mentions El Confidencial.

Millenium Hotels intends to go further. Its goal is to grow so as to become large enough to enter the main Spanish Stock Market. To get there, the company has its sights on eight buildings it intends to purchase in the future. According to El Confidencial, Javier Illán intends for its young REIT to reach a 1.000 million euro investment capacity.