The Group Stay Hotels (held the 100% for Private Equity funds managed by the Inter-Risk), national brand of reference in city hotels, has just announced the acquisition of the business of the oldest hotel of the city of Porto, the Grande Hotel de Paris.
With the acquisition of the Grande Hotel de Paris, the tag Stay Hotels goes on to make a total of eight hotels, located from North to South, in line with the commitment to provide unique and differentiating experiences, based on your premise "Just what you need”.
With this acquisition, the group reaches a capacity of approximately 500 accommodation units, having almost all of the investment been made using own funds injected by the shareholder. The Group has designed an investment of approximately EUR 7 million to be realized in the next 18 months in acquired units.
The investment in the acquisition of Large Stay Hotels Hotel de Paris will be followed by a significant expansion of existing business, with an increase of about 20 existing hotel rooms, to be held in buildings adjacent to the current hotel, also included in the deal made.
In order to strengthen your presence in the Portuguese market, Stay Hotels is currently in a process of capital increase aimed at doubling your capacity, through acquisitions and/or opening of new hotel units.