June 2007: RoomMate Hotels incorporates Corporación Caja Castilla La Mancha to its shareholder base through a capital increase.
RoomMate Hotels, which is managed and majority controlled by Enrique Sarasola, began in 2001 with the opening of Hotel Mario in Madrid. RoomMate employs an innovative business model focusing on 3 star hotels in urban centers with between 40 and 80 rooms. It offers modern design with an outstanding value for money proposition.
RoomMate completed 2006 with 5 hotels open, 3 in Madrid, and 1 in Valencia and Granada. During 2007, it will open 8 hotels and expects to have a chain of 25 hotels by 2009. Corporación Caja Castilla La Mancha’s incorporation to the shareholder structure will allow an acceleration of the business plan and a widening of geographic coverage through a combination of new debt and equity.
SOCIOS advises on the preparation of the business plan for RoomMate, designs the capital raising exercise, identifies the new investor and represents the company in negotiation and closing the transaction.