Hoteles BESTPRICE increases its revenue by 29% in the first 9 months and boosts its operating profit by 37% to 2.5 million euros

28 Oct 2024 11:02 CET

Hoteles BESTPRICE has achieved record operating profits in the first nine months of the year, reaching €2,497,000—the highest in the company's history. Gross revenue surpassed €5,850,000*, with an operating margin on sales above 46.9% (profitability), compared to 44% the previous year, resulting in an efficiency and productivity improvement of nearly three points. The hotel chain is making significant investments to open three new establishments in Madrid, Barcelona, and Málaga, raising its hotel portfolio to 10 properties.
*Includes VAT

The hotel chain has scheduled its Investor Day for November 6, when it will present revenue and operating profit forecasts for the 2025-2026 period for all 10 hotels after their openings.

Hoteles BESTPRICE has achieved record figures in terms of occupancy and RevPAR (Revenue per Available Room). Occupancy in the third quarter reached an impressive 98.3%, while the ADR (Average Daily Rate) rose to €111.40. The RevPAR soared to €109.50 in Q3 and averaged €97.80 over the year. The company, listed on EURONEXT PARIS, reports exceptional results in occupancy levels across its seven operational hotels. The newly added BESTPRICE Barcelona Stadium, in Barcelona, stands as a market leader and is backed by an average team of 43 employees.

The hotel chain strengthened its financial position in the first nine months, with total ASSETS rising to €13,268,656 (or €13.26M) from €9.00M, a 47% increase compared to the same period last year. Cash reserves amount to €4,350,000, allowing the company to meet its current investment commitments for new hotel properties in Madrid, Barcelona, and Málaga.

Key metrics from the first 9 months of 2024:

• Operating profit (EBITDA) reached €2.5 million, 37% higher than the same period last year.
• Net income reached €5,319,000, up from €4,123,000—a 29% increase over the same period last year. Gross revenue rose to €5,850,000.
• Operating margin was 46.9% (profitability), compared to 44% the previous year, marking an efficiency and productivity increase of nearly three points.
• Several months with an operating margin above 50% on sales.
• Average occupancy at 93.7%, consistently above 90% for the last 24 months.
• ADR reached €104.38, with average RevPAR at €97.80.
• In Q3, ADR soared to €111.40, occupancy reached an impressive 98.3%, and RevPAR hit €109.50.
• Seven hotels are currently operational, with three more under development for upcoming openings.
• Hoteles BESTPRICE employs 43 staff members.
• The company's net debt stands at €6 million, or 2 times the projected EBITDA for the year.
• Estimated sales for 2024 are €7.7 million in gross revenue.
• Hotel pipeline: https://hotelesbestprice.com/pipeline-hoteles-bestprice/
• MARKET CAP stands at €71 million on the EURONEXT PARIS STOCK MARKET.

Hoteles BESTPRICE has favorable growth prospects for the full year, projecting €7.7 million in gross revenue. Occupancy rates have neared 100% since the end of the pandemic, and robust booking demand bodes well for strong quarters in 2025. Over the past year, the hotel chain’s investments reached record levels as it aims to double EBITDA by 2026 and achieve €13 million in gross revenue.

Hoteles BESTPRICE is listed on EURONEXT PARIS, with brokerage support from CaixaBank, BBVA, Sabadell, DEGIRO, Openbank, ActivoBank, and Interactive Brokers for EURONEXT PARIS trading.

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

According to Oscar Sánchez, president of Hoteles BESTPRICE, “We continue to consolidate excellent occupancy and profit results, enabling us to pursue an exciting growth strategy with the upcoming addition of new hotel projects. Our deluxe stay concept combines modernity, excellence, comfort, and an outstanding quality of service from our dedicated team.”

Hoteles BESTPRICE is an innovative boutique hotel chain that has entered the market with a unique and exclusive concept, highly attractive to guests and investors alike. The chain offers the best prices on deluxe hotel stays, featuring modern room design, first-class service, and a highly trained Guest Services team delivering personalized and professional assistance. Currently, seven boutique hotels are operational, including 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. Additionally, three new establishments are set to open in Madrid, Barcelona, and Málaga, expanding the hotel portfolio to 10.