Hospes Seeks Growing 5.7% This Year

15/10/2014 – Expansion

Hospes Hoteles gets back onto the right track. The chain held by Alicia Koplowitz (33.31% stake), the Yera (33.31%) and the Hernández López (31.02%) families closed the year 2013 with a 4.3% increase in revenues which post €22.11 million, the Mercantile Registry data shows. Moreover, for the first time since the recession hit, the company has obtained a positive turnover of €840.000, juxtaposed with the €1.38 million operating loss in 2012.

In terms of net result, Hospes lost €2.8 million, while in 2012 it gained €5.02 million partly thanks to the sale of the Hotel Lancaster in Paris. For 2014, the group foresees earning 5.7% more and close the year with €23.37 million in the accounts.

After selling its last property in France, Hospes put a full focus on the Spanish market and its eight five-star hotels (6 owned by the chain). The group’s flagship establishment is found on the Plaza de la Independencia square in Madrid (pictured).

The indebtness of Hospes reached €65 million at the end of 2013 and it is guaranteed by hotels in Seville and Cordoba, as well as various properties in Jerez, Alicante, Valencia, Granada and Palma de Mallorca.

In spite of the improvement in regard to the operating capital, the chain’s net patrimony value and working balance fell in the red. ‘Current liabilities in short-term exceed by €3.26 million the current assets and the reserves from the previous years’, the report states.


Original article: Expansión (by Yovanna Blanco)

Translation: AURA REE