alsotelH o t e l s a n d R e a l E s t a t e

OCTOBER 2015

about us

• alsotel is a hotel real estate company which acts as principalinvestment platform and as operating partner for internationalinstitutions looking to invest in Spanish hotel real estate.

• alsotel has a hands-on real estate management approach withinternational capabilities and significant market experience across allhotel sectors, from urban to resort, and from one to five stars. Theindividuals involved have a strong track record in the hotel and realestate industry investing for and alongside highly respectedinstitutional investors.

• alsotel’s team has significant in-house hotel experience in operations,finance, development and asset management, being able to operatehotels directly through strategic alliances with international hotelchains.

• alsotel’s investment approach is based upon a strong desire to co-invest and create bespoke structures thereby addressing the need ofpartners and counterparties in order to maximise stakeholder returns.

• alsotel is already managing a 7,000m2 office conversion into a 170room new lifestyle limited service hotel property in Madrid.

2

investment strategy

3

alsotel’s platform invests in a wide variety of projects and in differentways, where alsotel can be the sole investor, co-investor, or hotel partnerto an existing investor, providing all the necessary hotel expertise for ahotel investment and development decision:

• going concerns – trading hotel assets with potential for upgrades,rebranding, turn-arounds, extensions, etc., with or without operator.

• re-developments – existing assets of other use (office, residential,etc.) that can be re-developed as a hotel.

• mixed-use developments with a hotel component.• land (brown field sites) in central locations, with hotel use.• resorts with residential and other components such as golf or spa,

including destination resorts.

alsotel also invests in distressed companies or complex ownerships ofreal estate.

As hotel operator, alsotel operates through management agreements,leases, franchises, manchises, and any combination of them in order tomaximise the value of the asset.

geography & size

4

alsotel is looking for properties of any nature, from one to five stars, andfrom urban to resort locations, with an initial focus in Spain.

Urban locations with a minimum of 4,000 m2 of buildable area or 80rooms.• Primary: Madrid city and Barcelona city• Secondary: Málaga, Sevilla, Palma, Valencia, Bilbao, San Sebastián,

Granada and outskirts of Madrid and Barcelona.

Resort locations with a minimum of 7,500 m2 of built area or 150 rooms.• First or second line from the beach, in traditional mature markets

such as Costa Brava, Costa Blanca and Valencia, Costa del Sol,Balearics or Canaries.

• Mainly existing assets with potential for re-positioning.

Other: portfolios, whether urban, resort or mixed, throughout Spain.

Note: The office conversion hotel project is due to open in 2017, and willbe operated directly by alsotel through an international brand.alsotel is currently analysing a pipeline of projects in Madrid, Barcelona,Mallorca, Sevilla and Málaga.

senior management & partners

Horacio Alcalá (CEO – Co-Founder) - 20 years international experience in the hotel and real estate industry,in the last ten years focused in investment, development and execution in Spain. Most recently CEO ofSpain for Travelodge where he re-structured the Spanish business and introduced new business lines in theUK. Successful investment of over €500m in hotel assets, and development of 15 hotels (9 budget). Pastexperiences with Metrovacesa (Madrid), where he was Head of Hotel Investments, MedGroup (Barcelona),Matlin Associates (Madrid), TRI Hospitality Consulting (now CBRE Hotels, London/Madrid), Best Western(Hamburg), Marriott (Madrid), and Travelodge (Madrid/London). BSc (Hons.) Hotel and CateringManagement, University of Surrey. Lecturer at various universities.

Óscar Pérez (CFO – Co-Founder) – over 18 years international experience in hotel, corporate finance andreal estate industry with focused expertise in administration, accountancy, financial analysis and assetmanagement. Past experiences in Confortel (Spain/Venezuela), Renthotel Resorts (Mexico, DominicanRep., Italy), Metrovacesa (Madrid), Christie + Co. (Madrid), Matlin Associates (Madrid). BSc in Economicsfrom UAM (Madrid). MSc in Financial Management from EOI (Madrid), diplomas in Corporate Finance(IESE), Hotel Real Estate Investments and Asset Management (Cornell University) and BudgetManagement (IE).

Talus Real Estate (shareholder): Talus is a real estate investment company with more than €200m in assetsunder management, and is the industry partner and co-owner of alsotel, providing market knowledge andanalysis on every deal. For more information: http://www.talus-re.com.

International Hospitality Projects (architecture & construction): IHP is a specialist technical services firmproviding advisory services to the hotel industry. They have worked in over 300 hotel projects. alsotel hasan strategic alliance with IHP as outsourced technical team. For more information: http://ihp-group.com. 5

contact details

ALSOTEL HOSPITALITY GROUP93, Paseo de la Castellana

13th floor28046 Madrid (Spain)

+34 911 610 165info@alsotel.com

For more information contact:

Horacio Alcaláhalcala@alsotel.com

Óscar Pérezperez@alsotel.com

All photos in this brochure are hotels either developed, asset managed or operated by the senior management team of alsotel.