13 August 2019
The French hospitality group, B&B, sold its last hotel in Spain to the Miratres family office for 1.7 million euros. The hotel in Oviedo was the firm’s last directly owned property. Now, B&B is focusing its investment strategy on long-term guaranteed rental contracts.
In this manner, B&B is looking to double its market share in Spain and Portugal from 32 to 64 hotels by 2022. The firm expects to inaugurate fifteen new venues by the end of next year, ten in Spain and another five in Portugal.
Original Story: Eje Prime
Adaptation/Translation: Richard D. K. Turner