Atalaya and Summum Launch Joint Venture to Mobilize €2 Billion in Hotels

✦ Meridian Analysis

Atalaya Asset Management, through its newly formed vertical Atalaya Hospitality, has joined forces with Summum Hotel Group to launch AtalumHospitality, an independent investment platform targeting the acquisition and transformation of hotel assets. The initiative aims to mobilize €2 billion in the compra y transformación de activos en los próximos cinco años, enfocándose principalmente en el sur de Europa. Rather than utilizing a single pooled fund, the platform will structure acquisitions through independent vehicles for each operation, utilizing capital from family offices and investment funds, and, when appropriate, debt. Atalaya Asset Management prevé participar con un compromiso de coinversión directa en las operaciones, estimado de forma orientativa entre el 3% y el 5% del capital. The platform integrates investment management with hotel operations, targeting existing hotels that are outdated or have been left out of the market, or requiring capital expenditure and operational transformation. AtalumHospitality offers integrated services covering capital structuring, investment management, and hotel operations through Summum Hotel Group, which currently manages a portfolio of 47 hotels, with 42 establecimientos en operación y otros cinco en desarrollo, más de 5.400 habitaciones bajo gestión, más de 170 millones de euros de ingresos gestionados y más de 1.100 millones de euros de valor en hoteles operados. The platform is currently evaluating over 50 potential transactions in various stages of development, concentrating primarily on the sector vacacional frente al urbano, sin descartar oportunidades urbanas o en plazas mixtas de alta demanda. Specific financial terms of the individual transactions, the names of participating lenders or third-party investors, the identities of transaction advisers, and the exact timetable for the initial acquisitions have not been disclosed.

The Meridian Weekly