The management and administration of Losan Hotels World, S.L. is carried out throughout (i) its General Shareholders Meetings and (ii) its Board of Directors consisting of six members and that have delegated its faculties to a Chief Executive Officer who takes care of the daily management of the Company. Losan Hotels World, S.L. and pursuant to a management contract has been committed with the entire management of the Losan Hotels World Value Added I, S.L.´s asset portfolio.
The management and administration of Losan Hotels World Value Added I, S.L. is carried out throughout (i) its General Shareholders Meeting, (ii) a Board of Directors consisting of eight members, (iii) a Supervisory Board and (iv) a Control Commission, even thought and as mention before, the management of its asset portfolio has been entirely transferred to Losan Hotels World, S.L. trough the management contract. Members in the Supervisory Board are those investors that hold a minimum participation of €5M, and its main duties are examining the information provided by Losan Hotels World, S.L. in relation with the investments or des-investments accomplished and make recommendations or require additional information to Losan Hotels World, S.L., as well as being the party that solves any possible conflict of interest that may arise between the investors. The Control Commission is formed by three members and it is the direct counterpart of Losan Hotels World, S.L. for the purposes of evaluating in advance the investment and des-investment proposed.