Toni Mayor chain completes corporate integration of Huerto del Cura and Milenio hotels

An intended “natural” step, as explained by the businessman himself sort group structure to streamline its management, especially after the growth it has experienced in recent years.

In this sense, when the Mayor bought Huerto del Cura and Jardín Milenio, he actually bought two merchants. First, Gestur Huerto del Curawas responsible run hotelsthat is, to run the housing and restaurant management itself, ownership of buildings and the land was in his hand palm hotelreceived a lease for its use. A a very common structure in the industryin many cases ownership and management of property do not overlap.

Toni Mayor chain after purchase Gestur absorbs almost instantly, to manage hotels directly according to the company model. Again, palm hotel existed independently. Until now, according to the hotelier himself, when the businessman decided to merge it and transfer all his assets and liabilities to his parent company in order to simplify the business structure.

According to the last accounts deposited in the registry, according to the accounts of 2020 Palmhotel, More than 10 million Euro assets9.5 million logically corresponds to real estate investments. For his part, debts with credit institutions barely reached 670,000 euros and were covered by mortgage guarantees.

Toni Mayor bought the Huerto del Cura and Milenio hotels in Elche. enlargement process Its chain, Port Hotels, became old in 2017. Holiday Inn on San Juan Beach -in the process of expansion- and having the same chain Elche Business Park. A year later, he bought the Orts family business and, in fiscal 2019, first landed in Valencia by purchasing the Meliá-managed hotel next to the Manises airport. port hostess– and now converted former Try Valencia Feria Port Fair Valencia. In addition, the chain has allocated a new plot of land for the construction of another plant in the medium term around Terra Mítica and also has land next to In Tempo.