Equinox Nepremičnine d.d., the first public limited company on the Ljubljana Stock Exchange to engage in real estate leasing and development, has just negotiated a strategic 20-year lease on Grand Hotel Union, uHotel and Hotel Lev in Ljubljana. The deal was signed with world-renowned Hotusa Group, for a cumulative rent exceeding €110 million. The operator search was exclusively organised by Cushman & Wakefield.
Equinox Real Estate d.d. was established as the universal legal successor of UNION HOTELI d.d. By signing a strategic long-term lease agreement, it successfully completed the restructuring process of Equinox Nepremičnine d.d., thus strengthening its financial sustainability.
Matej Rigelnik, Executive Director of EQUINOX d.d. said: “The total value is more than €110 million during the length of the contract. In this way, the company ensures even greater financial strength and sustainability in the long run. In addition, the company will continue to pursue the goal of democratization of real estate investment in Slovenia, as well as play an active role in the development of local communities and long-term sustainable business.”
Cushman & Wakefield is pleased to have led the operator selection process for Union Hoteli Collection, representing Equinox as an exclusive advisor. Its international hospitality team leveraged their exhaustive experience to identify the most suitable operator and negotiate the best commercial terms for Equinox. The firm’s representatives strongly believe that Hotusa Group will continue to enhance the profitability of this hotel portfolio thanks to its global reach and reputation for being a well-recognized hotel chain with more than 40 years of experience.
David Nath, Partner and Head of Central & Eastern European Hospitality Team at Cushman & Wakefield added: “We are delighted we could bring the institutional flavour to Union Hoteli Collection. This newly established partnership with Hotusa, a very well-recognised hotel operator with over 200 properties under operations, reflects the enduring appeal for Ljubljana’s tourism market and its projected strong recovery from the challenging last two years.”
Grupo Hotusa is currently a dynamic, expanding organisation with over 40 years of experience and formed of a pool of companies from diverse spheres of the tourism sector. The embryo of the company is a hotel consortium created in Barcelona in 1977 which today positions itself as the world’s number one independent hotel consortium. In 2005, Hotusa Group created Eurostars Hotels. This chain became the first of a collection of establishments defined by a versatile directory.
Amancio López, Grupo Hotusa’s president added: ”For us, it is an honour and a privilege that Equinox has chosen us as an operator for these 3 signature hotels. It has been challenging to find opportunities to enter Slovenia, a country with a strong tourism industry, generating 12% of GDP. In the last six years, the market has benefited from sustained growth and became one of the most promising European destinations. We are confident that our extensive experience of more than two decades managing signature and historical hotels will further support this ambitious project, which is already on the path to success.”