Specialist hospitality investment firm enters Spanish market with maiden venue acquisition

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Newly launched hospitality investment firm, PTR Hospitality has announced it has completed it’s first venue acquisition, buying Costa del Sol sports venue, Bar None.

PTR Hospitality, which was launched by teenage tycoon Mitchell Carling earlier this month, is investing in the Spanish hospitality sector, snapping up popular bars and restaurants across the booming Costa del Sol region.

Despite domestic challenges in the hospitality sector across the UK, the Spanish market boasted record figures in 2023, with over 12.5 million visitors travelling to the sunny coastal region, an increase of 15% compared to 2022. The outlook for 2024 is even more positive with over 13.8 million tourists projected, a further 10% increase.

Scottish-born entrepreneur Mitchell Carling, who has grown up in the hospitality ‘hot-spots’ of Dubai and the Costa del Sol, has spent his youth immersed in his chosen investment sector. Speaking of the launch of PTR Hospitality Mitchell Carling commented; “Unlike the UK, the hospitality sector in Southern and Coastal Spain is booming, and a very active acquisitions market. Having decided to swap my classrooms for the boardroom and launch my own investment business we’ve made great progress and I’m happy to have concluded our initial investment deal so quickly. PTR Hospitality is an investment company, and my focus is on buying venues, whilst leaving my team to manage the venues on a day-to-day basis, I’ve no plans to be pulling pints.”

PTR Hospitality has concluded a deal to acquire popular sports venue, Bar None, located in the heart of bustling tourist resort, Benalmadena. The bar, which is now closed for an intensive six-week refurbishment programme, is just the first of many venues expected to join the PTR Hospitality group over the coming months.

Discussing the next stages of his ambitious growth plans, Mitchell added; “Working with local partners, we’ve identified a pipeline of exciting acquisition prospects, and are at advanced stage negotiations with various venues along the Costa del Sol. Whilst our current focus is on Spain, I have connected with advisors in other international markets where we may seek to invest. We will continue to grow our group of venues by acquiring the best restaurants and bars, and expect to be making more deal announcements soon.”

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