Financial restructuring of Marvera hotel company
Description of project
Marvera S.A. went through financial difficulties in the period 2010-14 during the tough financial crisis in Spain. The company, with annual turnover of approx.10 MM €, is one of the leading hotel operators in Costa del Sol, one of the main tourism destinations in Spain. It is a family owned and run company that hired Garrigues as legal and financial advisors. The restructuring process included different components: renegotiating current loans, selling the hotels and staying as operator with a lease contract and potentially acquire the loans with a financial partner that would then acquire the hotels and Marvera would stay as operator. Aninver InfraPPP Partners was hired by Garrigues to lead the second and third component of this project.
Services provided
- Evaluation of the business plan
- Market study and projections to reinforce the business plan
- Assessment of the market potential for selling the hotels and/or acquiring the loans
- Searching for financial partners, mainly international opportunistic funds operating in Spain
- Negotiation with the funds
- Supporting Garrigues and the company in the decision making process