COFIDES will accompany Grupo Hotusa in its expansion in the United States. To this end, it has granted two loans from the Foreign Investment Fund totaling €29.1 million, intended for the acquisition of two hotels in Washington DC and Boston – €21.8 million and €7.3 million, respectively. The total investment for both projects amounts to $77 million.
Thus, Grupo Hotusa will add the St. Gregory Hotel, a four-star boutique hotel located in downtown Washington DC, and the Boxer Hotel Boston, a four-star hotel located in the iconic West End neighborhood in the city center, to its portfolio.
Grupo Hotusa, the leading hotel chain in Spain and the ninth largest in Europe by number of establishments, aims to strengthen its position in the United States, where it currently operates four hotels in New York, Miami, and Chicago.
This is the second project in which COFIDES and Grupo Hotusa collaborate, consolidating a strategic relationship aimed at supporting the international growth of the Spanish hotel sector.
Miguel Ángel Ladero, COFIDES’ Corporate Director, noted that: “We are very pleased to continue contributing to Grupo Hotusa’s growth, a benchmark in the sector that has demonstrated a solid international track record. This operation strengthens the group’s presence in a key and highly competitive market like the United States and reflects COFIDES’ commitment to promoting projects that carry the mark of Spanish entrepreneurial talent and enhance the image of the Spain brand.”
For his part, Amancio López, President of Grupo Hotusa, expressed: “Our sincere gratitude to COFIDES for its support and trust in this new stage of our journey. The granting of these loans represents a decisive boost to consolidate our project in the United States, a strategic market due to its institutional relevance, business dynamism, and tourist appeal. This collaboration not only reinforces our international expansion but also supports the talent and management capabilities of Spanish hospitality abroad. We are confident that, with partners like COFIDES, we will continue bringing Grupo Hotusa’s hallmark of quality and excellence to new destinations while helping to project the Spain brand worldwide.”
ABOUT GRUPO HOTUSA
Grupo Hotusa is a dynamic organization comprising a significant number of companies across various sectors of the tourism industry. With over 47 years of history, the Group operates in more than 130 countries, employs over 6,000 people, and reported revenues of over €1.5 billion in 2024.
The company is organized into three business units: hotel services, under the Keytel umbrella, which is the world’s leading consortium of independent hotels with over 3,800 associated hotels in 92 countries; distribution, operating as Restel, marketing over 125,000 establishments globally; and hotel management, under Eurostars Hotel Company, with a portfolio of 287 units in 23 countries.
ABOUT COFIDES
COFIDES is a state-owned company that manages financial funds from the Spanish government, as well as its own resources and those of third-party institutions, with various objectives: promoting the internationalization of the Spanish economy, attracting foreign investment to strategic sectors in Spain, fostering the impact economy in Spain, and contributing to the development of the countries in which it invests. In addition to the Spanish government, which holds a majority stake, its shareholders include Banco Santander, Banco Bilbao Vizcaya Argentaria (BBVA), Banco Sabadell, and CAF – Development Bank of Latin America.
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