Landon invests €3.5m in Sercotel

The new capital will help the company achieve its aim of expanding overseas in 2011, with a view to having a presence within the next five years in the eight main cities to which Spanish executives travel. Sercotel is also seeking commercial alliances with businesses abroad and plans to focus on improving the management of its hotels, achieving lower rent costs and establishing a franchise network.

In 2008, Landon invested €8.5m for a 47% stake, having had a long-standing relationship with the firm's founding partners. These three founders now retain the remaining 30% of share capital.

Company
Barcelona-based Sercotel was founded in 1994 and currently operates 10 hotels, employing 120 people. The company initially enabled small hotel owners to put their resources together to better market and position their facilities, thus allowing them to compete on a similar footing with larger hotel chains.

Last year Sercotel generated a sales profit of €3.5m and an operating loss of the same amount. It expects to break even this year.

People
Jose Rodriguez Pousa, administration and finance director, led the deal for Landon.

Marisol Turró, Javier Garro and Benjamín Sanz are the founders of Sercotel. Turró and Garro are general managing partners and Sanz is also the company's sales and marketing manager.

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• Topics
• Southern Europe
• Expansion
• Consumer
• Spain