Santander Sells Hotel Loans to Take Advantage of Tourism Rebound

Banco Santander SA is selling part of its Spanish commercial real estate assets as it seizes on a post-pandemic resurgence in tourism to clean up its balance sheet.

Spain’s biggest bank this month sold around €300 million ($321 million) in hotel loans to credit investor Polus Capital Management, according to people with knowledge of the matter. The loans had previously been refinanced or were unlikely to pay.

The lender is also considering disposing of a portfolio of commercial real estate assets that includes office buildings and hotels, the people said, asking not to be identified because the negotiations are ...