Julius Meinl Living: Strategic Updates and New Fund Launch

Julius Meinl Living PLC, through its group companies, targets prime real estate assets in key European cities to develop top-rated hotel properties comprising mainly apartments. The company operates these properties independently.

The flagship property, The Julius Prague, reported €10.3 million in revenues and €5.1 million EBITDA in 2023. For the first seven months of 2024, revenues increased by 21.3% and EBITDA by 29.7% compared to the previous year. The Escala Hotel & Suites in Budapest is preparing for refurbishment set to begin in Q4 2024.

The Julius Prague has secured new €68 million loans, increasing borrowed amounts by €18 million. These loans have no impact on the net leverage of the group and will ensure liquidity post-bond maturity in September 2024.

The Julius Bucharest received initial permits for redevelopment. Financing documentation is being finalized, with the hotel set to open in spring 2027.

The Julius Fund, a qualified investor fund managed by CODYA investiční společnost, was launched. It targets non-voting shares and bonds issued by JML Finance. This fund aims to enhance Julius Meinl Living’s equity base and bond liquidity.