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Angelo Gordon Investments acquires Room Mate

As anticipated by some rumors, the American investment fund Angelo Gordon Investments, in partnership with Westmont Hospitality Group (Canadian hotel manager), acquired the Spanish chain Room Mate, after the operation was approved by the Madrid court. It is recalled that the company based in Madrid had officially declared bankruptcy (more precisely voluntary concurso) at the end of June with the plan to give space in the company to a new investor, after the SEPI (Spanish Company of Industrial Participations) had denied the bailout of the hotel company. As reported by “El Confidencial”, the US fund will invest 57 million euros in Room Mate, of which almost 40 million will go to pay debts to owners, suppliers and even customers. Angelo Gordon and Westmont will retain Room Mate’s current workforce of over 400 employees, taking over the management of 21 hotels in Barcelona, ​​Granada, Madrid, Malaga, San Sebastian, Paris, Florence, Rome, Rotterdam and Istanbul, and excluding management of two hotels that Room Mate operated in the United States (Miami and New York), owned by Sandra Ortega.

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