Through its Free Investment Fund (FIL), Bankinter Investment is launching a bid for 100% of ATOM Hoteles SOCIMI, with the backing of other co-investors
The transaction is being carried out through the Bankinter Investment Inversión Alternativa II fund (FIL), backed by other co-investors, and values 100% of ATOM’s share capital at 509.8 million euros, equivalent to 15.79 euros per share.
The acquisition of a stake in ATOM by the FIL will enable its unitholders to have part of their investment linked to a sector as significant as tourism in Spain, through a value-creation strategy based on a consolidated hotel portfolio, with assets in strategic locations, top-tier operators and the capacity to generate recurring revenue.
ATOM Hoteles, a vehicle launched in 2018, has to date distributed 246.4 million euros to its shareholders, equivalent to 75.2% of the initial capital contributed. This offer now represents a liquidity event for shareholders.
Bankinter Investment has launched a voluntary takeover bid for 100% of the share capital of ATOM Hoteles SOCIMI, S.A., a company listed on BME Growth that specialises in hotel property assets. The bid has been organised through Bankinter Investment Inversión Alternativa II, FIL, with the support of other co-investors.
This bid is being launched at a total value of €509.8 million, equivalent to a price per share of 15.79 euros. The bid has been made at a premium to the value of the assets as at 30 October, following the relevant adjustments.
The transaction is open to all ATOM shareholders, who may accept the bid in full or in part to obtain liquidity for their investment or retain their stake in the company.
The acceptance period for the aforementioned bid is scheduled to begin on 2 November and run until 4 December 2026, with settlement to take place on 18 December, in accordance with the published timetable and subject to the terms and conditions of the transaction.
The bid forms part of Bankinter Investment Inversión Alternativa II, FIL's strategy of investing in a diversified manner in real economy assets with income-generating capacity and long-term value creation potential.
Prior divestment of the AC Sevilla Forum and strengthened financial structure
ATOM has announced the sale of the AC Sevilla Forum hotel, which has been finalised for a total of 13.5 million euros.
At the same time, ATOM has consolidated its financial structure through a bilateral financing facility of 230 million euros arranged with one of the leading Spanish banks. The facility, with a seven-year maturity and a structure in which 80% of the repayment is due at the end of the term, enables the company to refinance and optimise its repayment schedule, improve the availability of funds and provide the company with greater financial flexibility to tackle its next phase.
A well-established hotel portfolio with growth potential
ATOM’s current portfolio comprises 20 hotels, more than 5,100 rooms and assets valued at 830.9 million euros. It is diversified by location, urban and holiday property types, and by operator, with properties in well-established destinations across Spain.
The hotels have lease agreements that combine guaranteed minimum rents indexed to the CPI, and variable components linked to the turnover of the establishments. The portfolio generated approximately 44.4 million euros in gross rental income in 2025 and has a loan-to-value (LTV) ratio of 44%, following the recent refinancing.
Drivers of growth and future value creation
ATOM will continue to benefit from the active management provided by Bankinter Investment and GMA, which have a proven track record in the portfolio of hotels managed since 2018. Value creation will hinge on a number of factors, notably the improvement in rental income, selective investment in CAPEX and the repositioning of certain hotels, as well as the maturing of recent investments in hotels such as METT Barcelona, Melia La Palma and Melia Valencia.
Both Bankinter Investment and GMA have expressed their interest in individually maintaining their shareholdings above 5.0%, thus ensuring continuity in the management of the company and driving value creation for new shareholders and those who decide to retain their stake in the capital. Furthermore, ATOM Hoteles SOCIMI will continue to be listed on BME Growth.
Eight years of creating value for shareholders
ATOM Hoteles SOCIMI was established in 2018 by Bankinter Investment and GMA, a management partner specialising in the hospitality sector, with a total capital of 327.6 million euros and a strategy focused on building a diversified portfolio of city and holiday hotels mainly four- and five-star properties, offering recurring income and potential for capital appreciation.
Between 2018 and 2020, ATOM acquired 28 hotels and came to manage up to 32 assets. Throughout its history, it has invested more than 100 million euros in improvements and repositioning, whilst also implementing product and brand changes aimed at enhancing the quality of the assets and their income-generating capacity.
Since its launch, ATOM has distributed more than 246 million euros to its shareholders, equivalent to over 75% of the contributed capital.
With this liquidity event, investors who have participated in the investment vehicle from the outset and who take up the offer will realise a return on their initial investment of more than 2.3 times and will achieve an IRR, net of commissions and expenses, of close to 12%; well above the set return target of 9%.
About Bankinter Investment and Bankinter Investment SGIIC
Since 2016, Bankinter Investment has launched 32 investment vehicles in sectors such as infrastructure, hotels, student accommodation, technology and agricultural assets, among others. The management company has more than 7.2 billion euros in assets under management and provides access to its investment solutions to more than 20,000 clients.
Bankinter Investment SGIIC is the management company specialising in alternative investment that manages the vehicle FIL Bankinter Investment Inversión Alternativa II. Its model is based on direct investment, sectoral and geographical diversification, and collaboration with partners and specialist teams with extensive experience in their respective markets.
In March 2026, the merger of Bankinter Investment SGIIC and Plenium Partners, a partner of Bankinter since 2017 in numerous investment vehicles and a leading player in renewable energy, the energy transition and infrastructure. Furthermore, the acquisition of a stake by Bankinter Investment in the French asset management firm Access Capital Partners, a management firm specialising in infrastructure and private equity with a broad European presence.
Once both transactions have been completed and authorised by the relevant regulators, Bankinter Investment SGIIC will exceed 14 billion euros in capital committed by its investors.
About GMA
GMA is an independent company that specialises in property. The company focuses on investment, asset management and property development projects, primarily for hotel use. GMA has a professional team with extensive experience in both domestic and international markets.
The company has managed its own and third-party investments, taking on different roles according to the type of company and project, from the identification of opportunities, structuring of funds, buying and selling, management and co-investment to the promotion, operation and divestment of assets.
In recent years it has been involved in more than 500 transactions and projects worth over 5 billion euros. It currently manages more than 1.5 billion euros in assets across all the companies in which it participates.
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