Record Summer for Hoteles BESTPRICE with 98% Occupancy and Rates Driving Operational Profit

17 Sep 2024 08:59 CEST

The hotel chain Hoteles BESTPRICE, listed on the EURONEXT PARIS stock exchange, has achieved a record-breaking summer in terms of occupancy, rates, and operational profit, with an operating profit margin of 50.7% over sales.

Throughout the summer, its seven operational hotels recorded an impressive average occupancy of 98%, and average room rates exceeding €106. This marked a 31.1% increase in revenue compared to the previous year, with an estimated annual turnover of around €7 million for 2024. The company is investing in expanding its portfolio with new hotels in Madrid, Barcelona, and Málaga, aiming to bring its total number of operational hotels to 10.

In the first half of 2024, Hoteles BESTPRICE set record highs in both occupancy and RevPar (Revenue per Available Room). The average occupancy rate reached 93%, with five consecutive months surpassing 90%, and the average daily rate (ADR) exceeded €101. The chain recently added the BESTPRICE Barcelona Stadium to its portfolio, positioning itself as a leader in its target markets, with a team of 42 employees.

Financially, the company reinforced its balance sheet, with total assets rising to €13.15 million, a 131% increase from the previous year. The summer's strong cash position enables Hoteles BESTPRICE to meet its ongoing investment commitments in its new hotels.

Key performance indicators for the first half of 2024 include:

• EBITDA of over €1.61 million, up 49% year-over-year.
• Revenue of €3.47 million, a 35% increase from the same period in the previous year.
• Operating margin of 46%, with some months exceeding a 50% margin.
• Average occupancy of 93%, consistently above 90% over the past 18 months.
• An ADR of €101 and a RevPar of €94.32.
• Seven operational hotels, with three more under development.

The company projects annual sales of €7 million for 2024 and boasts a market capitalization of €71 million on the EURONEXT PARIS stock exchange.

Hoteles BESTPRICE is listed on EURONEXT PARIS, and banking institutions such as CaixaBank, BBVA, Sabadell, DEGIRO, Openbank, ActivoBank, and Interactive Brokers support Hoteles BESTPRICE with stock market brokerage on EURONEXT PARIS for the company's stock.

The company’s ISIN code is ES0105664009, and its stock ticker on EURONEXT PARIS is MLHBP.

According to Oscar Sánchez, president of Hoteles BESTPRICE, “This has been a wonderful summer with excellent occupancy rates and profits that allow us to pursue an exciting growth and profitability project, with the incorporation of new hotel projects. Our deluxe stays offer a combination of modernity, excellence, comfort, and top-quality service from our human team.”

Hoteles BESTPRICE is a boutique hotel chain that has made a remarkable entry into the hospitality industry with an innovative, unique, and exclusive concept that is highly attractive to customers. It also presents an appealing growth model for investors. The chain offers the best hotel prices with deluxe rooms and first-class reception services. The hotels are characterized by modern design, efficient, personalized, and professional service provided by a highly trained Guest Services team.

The chain currently operates seven boutique hotels: BESTPRICE Diagonal and BESTPRICE Gracia in Barcelona, BESTPRICE Madrid Alcalá, BESTPRICE Girona, BESTPRICE Valencia, the recently opened BESTPRICE Santillana del Mar, and the new BESTPRICE Barcelona Stadium.

Press Contact: Tech Sales Comunicación – Gabinete de Prensa