CaixaBank Hotels and Tourism and the Asociación Empresarial Hostelera de Benidorm, Costa Blanca and Comunidad Valenciana (HOSBEC) are providing a financing line of 500 million euros.
The aim is to promote and revitalize the tourism and hotel sector in the region over the next two years. This investment, which is provided to over 252 members and 82,000 tourist sites, is extensible, if credit applications submitted by businesses exceed the initial amount.
This line of credit ensures, among other things, the financing of new waves of modernization, which will enable properties to maintain their market positions.
The signing ceremony brought together Bernardino Gosp, Director of Corporate Banking in the Valencia region of CaixaBank and Antonio Mayor, President of HOSBEC.
Last March, CaixaBank and CEHAT (Spanish Confederation of Hotels and Tourist Accommodation) provided a 3 billion euro financing line to 13,000 properties.
The financial company claims a portfolio of more than 14,000 clients and a revenue of 5 billion euros.
