RIU Inputs 1.472 Millon Euros & Destines 300 Millions For Offer Modernization

24/01/2014 – Expansión

RIU Hotels & Resorts gained positive balance in 2013. Last year, the chain controlled by the Riu family allocated 1.472 million Euros, almost 15% more than in 2012. The company closed the fiscal year (2013) with establishments in 16 countries and more than 27.000 employees.

In 2014, the Majorcan enterprise will boost the budget proposal destined for the hotel construction and renovation up to 300 million Euros – in 2013 the amount was equal to 200 millions.

Spain will focus a considerable part of the investment effort by renovation of four hotels: two in Playa de Palma (the Hotel RIU San Francisco among others, the first group´s establishment), one on the Gran Canaria Island (which will be transformed from 4- to 5-star hotel) and one in Nerja (Andalusia). Cancún and Jamaica will be the next to modernize in the portfolio pool.

Incorporation

In the meantime, the company will continue to expand its asset portfolio. Among the planned incorporations there is a hotel in Panama, (…). Berlin will receive the first urban hotel of the chain in Europe to open in September. The RIU Plaza New York Times Square, the jewel of the chain in the heart of Manhattan, will be inaugurated just in a year after that.

In 2012, the company focused principally on the holiday segment wishes to enhance the new service offer, such as hotels for adults only, and progressively renovate its establishments. Last year, RIU refurbished entirely or partially around a dozen of hotels and aquired assets in Spain, Mexico, Bulgaria, Tunisia and Jamaica. With 107 hotels embracing 43.000 rooms, RIU is by size the 29th hotel chain in the world and third in Spain (…).

Source: Expansión

48