99% Occupancy in October and Strong ADR Driving a 31% Revenue Increase Compared to the Previous Year

27 Nov 2024 10:43 CET

The hotel chain maintains a positive trend in occupancy and rates, surpassing initial forecasts for the year.

Hoteles BESTPRICE achieved outstanding occupancy across its operational hotel portfolio during October, reaching 99% in its urban hotels in Barcelona, Madrid, Valencia, and Girona. Only its vacation-oriented hotel in Santillana del Mar recorded a lower occupancy rate of 65%. The annual revenue is projected at €7.8 million gross, with an adjusted operating profit of €3.6 million (excluding CAPEX figures). October’s sales were 23% higher compared to October 2023, and for the first 10 months of the year, revenue increased by 31% year-on-year, reaching a gross total of €6.8 million.

The hotel chain also solidifies customer satisfaction with high ratings on OTA platforms such as Booking. BESTPRICE Alcalá achieved a rating of 9, BESTPRICE Valencia an impressive 9.2, BESTPRICE Gracia an 8.6, BESTPRICE Stadium Barcelona scored 8.5, and BESTPRICE Girona received a rating of 8.6. These scores reflect our commitment to excellence and customer satisfaction.

In the words of Oscar Sánchez, President of Hoteles BESTPRICE:
"These achievements would not have been possible without the hard work and dedication of our talented team, as well as the continued support and trust of our valued clients and shareholders. At Hoteles BESTPRICE, we are committed to providing exceptional experiences to our guests and staying at the forefront of the hotel industry. We are thrilled with this success and look forward to continuing to exceed expectations in the future."

Hoteles BESTPRICE is listed on the EURONEXT PARIS stock exchange, with an initial share price of €1 and an initial market capitalization of €20.4 million (20,400,000€). The company’s ISIN code is ES0105664009, and its ticker on EURONEXT PARIS is MLHBP.

Hoteles BESTPRICE is a boutique hotel chain leading the budget hotel segment in Spain. It offers an innovative, unique, exclusive concept that is highly attractive to all guests, with a compelling profitability and growth model for investors. The chain provides the best rates for deluxe hotel stays with first-class service delivered by a professional reception team, modern facilities, and fast, personalized service from 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 newly opened BESTPRICE Santillana del Mar, and Hostal BESTPRICE Stadium Barcelona. It will soon add three new properties in Madrid, Barcelona, and Malaga, expanding its portfolio to 10 hotels.