Room Mate, Kike Sarasola's hotel chain, files for voluntary bankruptcy

Room Mate has presented that Friday before the Dean of the Mercantile Courts of Madrid the request for voluntary bankruptcy with the sale of the production unit, accompanied by a binding offer by an investor that proposes the continuity of the business and the maintenance of jobs, according to Europa Press. Unidentified investor.

Not even the best year of tourism saves Sarasola: Room Mate recorded losses of 7.4 million in 2019

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The hotel chain headed by Kike Sarasola has informed through a statement that the transfer of the hotel business is subject to the analysis of the bankruptcy administrator and the approval of the judge. In addition, he has pointed out that the contest exclusively affects the Room Mate company and not the rest of the group's companies.

The company has stated that this procedure has the objective of guaranteeing the viability and continuity of its business activity, the service to its clients and the future of its workers and suppliers.

In this way, it seeks to take advantage of the new ways offered by the latest reform of the bankruptcy law to face the sale of its productive unit with greater guarantees and in the best conditions.

The blow of litigation

Room Mate has indicated that it has been "strongly hit by the serious pandemic and by the legal litigation maintained by the shareholder Sandra Ortega with the financing banks of Room Mate”.

Last May, the businesswoman Sandra Ortega, daughter of Amancio Ortega and Rosalía Mera, announced that she would evict the Spanish hotel group Room Mate from two hotels in New York and Miami by demanding 100% of the rental payment for the properties. The hotel chain accuses the businesswoman of "extreme rigidity" in the negotiations.

From the company they have stressed that they are in the process of regularizing the payment with most of their suppliers and on the way to its recovery, but that the bankruptcy process is the most appropriate formula for its future viability.

Room Mate has promised to contribute with everything necessary to facilitate the development of the procedure, he assures. During the time that the bankruptcy process lasts, the activity of the hotel chain will continue to develop, he adds.