Investment Type:

REVENUE PARTICIPATION

Investment Horizon / Maturity:

6 years

Return Profile:

8–11% p.a.

Total Offering Size:

12,000,000 EUR

Hospitality operating growth

Hospitality operating business structured around revenue participation. The company manages an established hospitality asset and generates income from accommodation and guest services. The business case depends on occupancy, pricing, seasonality, operating controls, revenue reporting and contractual enforceability. Detailed numerical investment terms are kept in the structured fields.

Minimum Investment: 1,000,000 EUR

Distribution Mechanism: Revenue-linked payments under participation agreement; capital return through buyback or expiry.

Security / Protection Structure: Contractual revenue participation with reporting and waterfall rights

Early Exit / Redemption Terms: Contractual buyback or revenue participation expiry

Capital Return Mechanism: Revenue-linked payments and contractual buyback

ISIN: Not assigned

Investment Opportunity Status: ACTIVE

Transaction ID: II-25-119

Financial Performance

Revenue (current year): 18,000,000 EUR

Revenue (2 years ago): 13,000,000 EUR

Revenue (1 year ago): 15,500,000 EUR

EBITDA (current year):

EBITDA (2 years ago): 1,900,000 EUR

EBITDA (1 year ago): 2,300,000 EUR

Operating Profit (EBIT) (current year): 2,600,000 EUR

EBITDA Margin: 14.4%

Balance Sheet & Leverage

Total Assets: 34,000,000 EUR

Equity: 16,000,000 EUR

Long-term Liabilities: 12,000,000 EUR

Short-term Liabilities: 6,000,000 EUR

Equity Ratio: 47.1%

Net Debt / EBITDA: 6.9x

Total Liabilities: 18,000,000 EUR

Liabilities / Equity: 1.1x

Liabilities / Assets: 52.9%

Long-term Liabilities / Total Liabilities: 66.7%

Short-term Liabilities / Total Liabilities: 33.3%

Collateral Coverage

Value of Collateral: N/A

Collateral Coverage Ratio: N/A

Description of Collateral and Coverage: No traditional collateral; protection is based on contractual revenue waterfall, reporting rights and operating asset performance.

Use of Funds & Valuation

Use of Proceeds: Funding for hospitality operating expansion

Accepted Investment Currencies: EUR, USD

Ownership & Legal

Ownership Structure:

Founder group 70%, minority investors 30%

Existing Financing: Asset-level bank facility

Company Jurisdiction: Spain

Business & Strategy

Company / Project Description: Hospitality operating business focused on hospitality operations.

Revenue Generation Model:

Revenue from room revenue, guest services and ancillary operating income.

Year Established: 2017

Number of Employees: 56

Brief History:

The operator stabilized the asset and now seeks institutional participation capital.

Reason for Capital Raising:

Funding for operating expansion and balance-sheet flexibility.

Core Business Activity:

Hospitality asset operation and revenue management.

Company Stage: Active – term sheet available

Revenue Generation Model:

Revenue from room revenue, guest services and ancillary operating income.

Detail

The opportunity concerns a hospitality operating business active in hospitality operations. The business is built around managing an established hospitality asset, controlling occupancy, pricing, guest services and operating costs. It should be assessed as an operating business with defined commercial drivers, rather than as a generic financial product. The sponsor or manager is expected to demonstrate sector knowledge, control over execution, a credible reporting process and the capacity to manage the project through the full investment period. The commercial rationale is based on the practical economics of hospitality operations. Revenue generation is expected to come from room revenue, guest services and ancillary operating income. The investment case therefore depends on the quality of the underlying assets, the reliability of demand, the competence of the operating team and the ability to convert the business plan into measurable cash generation. Investors should focus on whether the assumptions are supported by contracts, market evidence, operating history and a realistic implementation plan. Capital is intended to support funding for hospitality operating expansion. The funds should be applied within the defined business perimeter and monitored through normal institutional reporting. For this type of opportunity, investors would normally expect clear use-of-funds controls, regular management information, budget monitoring, restrictions on material changes and a transparent approval process for major decisions. Where the structure involves a dedicated project vehicle or fund vehicle, the separation between the investment perimeter and the sponsor’s wider activities should be clearly documented. Execution risk is central to the assessment. The relevant diligence should cover management experience, asset control, customer or tenant demand, supplier and contractor arrangements, regulatory conditions, legal enforceability, insurance, reporting and the practical route to liquidity. A credible plan should explain how the business will be operated, which milestones must be achieved, how delays or cost pressure would be managed and what information investors will receive during the holding period. Investor protection should be analysed through the specific instrument and governance package. The current structure is described elsewhere in the dataset as revenue participation agreement, and the investor position should be read together with subscription documents, constitutional documents, reporting obligations, transfer restrictions, tax considerations and risk factors. The narrative intentionally avoids repeating headline financial terms, because those terms belong in the structured fields of the platform and in the formal documentation. The opportunity is intended for institutional review. It should therefore be presented as a business profile: what the company or vehicle does, why the project exists, how the operating model creates value and which commercial factors matter before an investment committee proceeds to deeper due diligence. The investor should separately review the financial model, legal documentation, management accounts, audit status, sensitivity analysis and all assumptions supporting the business plan. In practical terms, the strongest review questions are whether the hospitality operator has sufficient execution capacity, whether the business plan is based on verifiable market evidence, whether governance rights are adequate for the risk profile and whether the exit or redemption route is realistic under conservative conditions. The opportunity should not be evaluated only on presentation quality; it should be tested against asset-level evidence, contractual documentation, management reporting and downside scenarios. This makes the description useful for screening while leaving formal investment terms to the structured fields and transaction documents. In practical terms, the strongest review questions are whether the hospitality operator has sufficient execution capacity, whether the business plan is based on verifiable market evidence, whether governance rights are adequate for the risk profile and whether the exit or redemption route is realistic under conservative conditions. The opportunity should not be evaluated only on presentation quality; it should be tested against asset-level evidence, contractual documentation, management reporting and downside scenarios. This makes the description useful for screening while leaving formal investment terms to the structured fields and transaction documents.

Pro-forma & Transaction

Deal/Revenue: 0.7x

Deal/EBITDA: 5.2x

Deal/Equity: 0.8x

Structure & Terms

Capital Structure: Equity 47.1%, liabilities 52.9%.

Investor Ranking: Contractual participant under revenue waterfall

Return Source Mix: Revenue-linked payments and contractual buyback

Instrument: Revenue participation agreement

Financial Reporting:

Accounting Standard: IFRS

Audit Status: Unaudited project/SPV financials

Data Room:

Audit:

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