CaixaBank tourism financing reaches Balearic Islands
CaixaBank said in Barcelona on Sunday that it provided more than €2.5 billion in tourism financing to hotel and tourist-accommodation businesses across Spain during the first half of the year. Much of the funding was directed to the Balearic Islands, Spain, as well as the Canary Islands, Madrid, Catalonia and Andalusia.
The bank’s Hotels & Tourism division completed more than 2,300 credit transactions for tourism-accommodation companies, up 1.2% on the same period a year earlier.
Investment and operating needs
The financing was used mainly to refurbish and update properties and to buy hotel assets. It also supported innovation, sustainability measures, working capital and day-to-day business needs.
Hotels & Tourism manages a loan book of more than €10.5 billion and serves over 13,800 clients in the tourist-accommodation sector.
Tourism lending since 2020
CaixaBank said it channelled about €19 billion to the tourism sector between 2020 and 2025. The funding backed expansion projects alongside modernisation plans intended to improve competitiveness.
More than 40 CaixaBank specialists focus on the hotel sector. They are supported by around 2,300 business advisers working through more than 200 specialist centres and offices for businesses and small and medium-sized enterprises.
Source: Europa Press / Mallorca.com