Vincci to Open Six New Establishments Within Two Years

14/10/2014 – Expansion

Vincci re-starts its growth plans. The hotel chain controlled by the Calero family is going to add to its portfolio six new establishments ranging from four to five stars of the quality ranking over the years 2015 and 2016. Vincci will operate rented buildings in Portugal (Oporto and Lisboa) and, above all, in Spain (Valencia, Malaga, Bilbao and Madrid, precisely at the number 10 of Gran Via street in the capital).

New openings mean adding up almost 600 keys with the total result of 40 hotels and 5.470 rooms. Also, the chain keeps a close eye on principal European capitals, as well as the U.S. cities (New York and the Eastern Coast), Tunisia and the Carribbeans.

Vincci opts for rental agreements and growth based on partnership. Asked how much the chain might still expand, its CEO Carlos Calero assures it may assume between 15 and 20 new hotels more.

Better Performance

The executive states that after the poor development in 2013, the year 2014 sees a slight increase in the hotel market. Figures confirm his words. In Spain and Portugal, sales improved 7% from January until the end of August and the outlook for the last quarter is optimistic. Throughout 2013, Vincci earned €144 million and employed 2.000 workers.

Asked about his opinion on the opening of a Four Seasons hotel in Madrid and the rise in competition in the market, Mr. Calero responds that if such big-name firms wanted to invest in Spain, this was due to the country’s potential to crawl out from the recession.

‘Four Seasons is going to contribute to higher average room prices in the Spanish capital’, he says. The CEO is also convinced that there will be more alliances in the future, such as the partnership of AC and Marriott.

Finally, Carlos Calero calls for better sector debugging and regulation on the holiday rentals.


Original article: Expansión (by Yovanna Blanco)

Translation: AURA REE