Financial Support by Spanish Council of Ministers (SEPI)

Important Information

Meeting Point Spain S.L. and Meeting Point Hotel Management (Canaries) S.L.U. have been granted temporary public support by the Spanish Council of Ministers through the Fund to Support the Solvency of Strategic Companies (FASEE).

The support amounts to 31 million euros through a participatory loan of 20,700,000 euros and an ordinary loan of 10,300,000 euros. This fund was established in July 2020 by the Spanish Government to provide temporary public support to non-financial companies affected by the COVID-19 pandemic, which are considered strategic for the national or regional business sector.

Regarding our current situation, the companies that receive this temporary public support have a maximum of five years to fully repay the loans with the interest rates set according to the Spanish Council of Ministers agreement of July 21st and in the Temporary Framework of the European Commission.

Importance of Meeting Point Spain S.L. and Meeting Point Hotel Management (Canaries) S.L.U.

Meeting Point Spain S.L. and Meeting Point Hotel Management (Canaries) S.L.U. are highly respected companies in the tourism and hotel sector, with a strong reputation for quality execution, good know-how, and a high degree of contractual compliance. They significantly impact the economy and employment, generating direct and indirect jobs and attracting national and international tourists.

The authorized aid was executed in two provisions with complete transparency by the operation of the Solvency Support Fund for Strategic Companies.

Transparency

The total authorized aid was executed in two provisions:

Funds' Objective

The funds' objective is to prioritise the continuation of business operations for both companies and accelerate the implementation of employment maintenance and continuity plan.

The table presented below provides a breakdown of the allocation of funds for each subject:

*Includes, among others, refunds, taxes, national insurance, financial expenses, etc.

Actions made in 2023 towards achieving the ecological transition objectives

At Meeting Point Hotels Spain, significant progress has been made in achieving the objectives of the ecological transition.

Meeting Point Hotels Spain recognizes the importance of environmental management for the sustainability of its business.

To minimize the environmental impact of its activities and commit to the ecological transition, a series of objectives have been defined and executed, including reducing energy, water and gas consumption, waste production, and optimizing their management.

Installed equipment aimed at reducing energy consumption:

- Solar panels and heat pumps were installed at the Labranda Golden Beach hotel to heat the water in 152 rooms and the pool.

- Thermal accumulators were installed at MP Club Caleta Dorada hotel for water heating in its 294 rooms.

Certificates obtained related to energy consumption and sustainability:

- Obtain and renew the Travelife sustainability certificate in 18 hotels managed by Meeting Point Hotels Spain.

- Obtain and renew the water footprint certificate in 18 hotels managed by Meeting Point Hotels Spain.

- Obtain and renew the energy efficiency certificate in 18 of the hotels managed by Meeting Point Hotels.

Measures implemented to reduce energy consumption:

To reduce water and gas consumption, flow reducers, drip irrigation systems with programmers, and leak prevention plans have been implemented, resulting in a 3% reduction in consumption in 2023.

Suitable practice protocols, such as the Green Room Program, have also been implemented to encourage staff and guests to reduce their use of towels.

Projects implemented for waste management optimization:

Initiatives have been launched to optimize waste management, including the use of reusable polycarbonate utensils and removal of single-use plastic objects such as glasses.

Specialized companies are hired to manage hazardous and regular waste in all hotels.

Additional eco-friendly practices, such as using biodegradable bags and reducing amenities, are currently being implemented.

Hotels have taken measures to reduce the use of printed documents as much as possible and are now relying on an AENOR-certified supplier to recycle paper and cardboard waste. This ensures that they comply with sustainability obligations and reduce their environmental impact.