B&B Hotels Spain Revenues in Spain at 13 Million Euros in 1H17


22 August 2017

The hotel company has boosted its sales thanks to the acquisition of Sidorme Hotels in October 2016, together with the launch of new hotels such as the B&B Hotel Puerta del Sol in Madrid and the B&B Hotel Vigo.

The hotel group has quintupled it sales with this result

B&B Hotels, the hotel chain which specializes in offering comfortable accommodations with high-quality design and services, has quintupled its revenues in Spain in the first six months of this year compared to the same period in 2016, thanks to the 20 hotels the group operates in Spain.

The acquisition of Sidorme Hotels in October 2016, together with the launch of new hotels such as the B&B Hotel Puerta del Sol in Madrid and the B & B Hotel Vigo, haves boosted the group’s revenues above 13 million euros in the first half of the year.

This increase has had a positive impact on the hotel’s general operating profits, which have improved by 18 percentage points, leading Ebitda for the same period of 2016 to increase by a factor of fifteen, reaching 3.4 million euros in the period.

B&B hotels also obtained a 57% improvement in RevPar, with both occupancy (OCC) increasing by 45%, and the average price (ADR) by 9%.

Operating on a rental basis

In the first half of the year, the chain also sold the eight hotels it owned outright to the French fund Corum Asset Management so that all its hotels are operated on a rental basis.

“This is an excellent start for the first half of 2017, and we intend to improve our results even more by the end of the year. In 2016, the B&B Group registered the highest growth in the budget hotel sector, with a 15% increase, driven largely by the Iberian market, which further strengthened the confidence our shareholders and financial partners. We must take advantage of our good financial health to continue growing both in the Spanish market and in the Portuguese market with the medium-term intention of reaching the 40 hotels between the two countries. To achieve this goal, we will always offer our guests quality accommodations at an unbeatable price throughout Europe,” Jairo González, general manager of Spain and Portugal for B&B Hotels, stated.

B&B Hotels was the fastest growing independent hotel chain in Europe in 2016, reaching around 400 hotels in total, with 33,600 rooms and 6.8 million overnight stays.

The establishments are spread between France (254 hotels), Germany (93), Italy (25) and Spain (20). The company also operates five hotels in Poland, one in Morocco and another in the Czech Republic, and is expected to open units in Switzerland, Belgium, Austria and Brazil in the coming months.

The group intends to increase its network to 600 hotels by 2020, reaching some 50,000 rooms.

Original Story: agenttravel.es

Translation: Richard Turner

Overnight Hotel Stays Rose By 12.4% In February

28 March 2016 – Expansión

Hotel establishments recorded a total of 16.3 million overnight stays last month, up by 12.4% compared to February 2015.

During the first two months of 2016, overnight hotel stays grew by 10.4% with respect to the same period last year, according to figures released on Wednesday by the National Institute of Statistics (INE).

The increase in February was due to a 13.3% increase in overnight stays by non-resident visitors to Spain and a 11.2% increase in stays by residents. In addition, the average duration of stays in February amounted to 2.9 nights per user.

On the other hand, during the second month of 2016, 49.1% of all available places were occupied, which represented a YoY increase of 7.6%. Specifically, the occupancy rate on the weekend grew by 6.4%, to reach 57.2%. By region, occupancy rates in the Canary Islands were the highest, with an average of 77.9%, followed by Madrid (53.4%) and the Balearic Islands (48.9%).

The average daily rate (ADR) per occupied room amounted to €76.60, up by 7.9% compared with February 2015 and the revenue per available room (RevPar) amounted to €43.10, up by 16.5%.

By category, the average rate was €171.20 for five-star hotels, €80.70 for four-star hotels and €57.90 for three-star hotels.

Original story: Expansión

Translation: Carmel Drake