7 March 2019 – Expansión
The Valencia-based hotel chain Casual Hoteles is planning to open four new establishments in Spain in 2019 (in San Sebastián, Cádiz, Valencia and Madrid) and one in Portugal (in Lisbon). The group currently operates 11 hotels and expects to increase revenues by 58% YoY in 2019 to €12 million and to €20 million in 2020.
The firm is also evaluating its expansion into Italy, France, the Netherlands and the UK by 2023 when it expects to have 30 hotels in its portfolio and to generate revenues of €50 million.
Original story: Expansión
Translation: Carmel Drake