Atlantica Hotels International has been recapitalised with equity capital from Quantum Strategic Partners Ltd, a private investment fund managed by Soros Fund Management, Tao Invest, a private investment fund managed by Tao Capital Partners, and management.
Paul Sistare, founder and CEO of Atlantica, says: "This is a positive move for our clients, employees and business. We are delighted to partner with Soros and Tao, all long-term focused investors with strong track records of supporting growth companies. Our plans for growth remain in place."
As part of the recapitalisation transaction, global lodging industry veteran Doug Geoga has joined the investor group and will become Atlantica's new chairman to assist the company's ongoing expansion.
Sistare will continue in his leadership role as the president and CEO and Christer Holtze, former senior vice president of operations, has been promoted to Atlantica's chief operating officer. Three additional non-executive directors are set to join Atlantica's board including Waldemar Szlezak and Joshua Ho-Walker of Soros, and Matt Bigliardi of Tao. Juan Carlos Duque of Capital Workshop has also been retained as a consultant to facilitate achievement of Atlantica's growth objectives.
Geoga says: "We are pleased to partner with Paul, his leadership team and Atlantica's extraordinary employees to continue Atlantica's history of growth. Atlantica is well established as one of the top independent hotel management companies in the world and is committed to delivering excellence in operations, profitability and guest service with a talented and dedicated team of professionals at all levels. With demand for quality hotel operations and management solutions growing rapidly, Atlantica has a unique opportunity to be the premier service provider in the market.”
