Bestprice buys hotel in Barcelona for €1.5M

Bestprice buys hotel in Barcelona for €1.5M
BESTPRICE Barcelona Stadium.

Bestprice Hotels has announced the acquisition of a new hotel in Barcelona, increasing its portfolio to ten establishments in Spain, four of them in Barcelona. The recently acquired Bestprice Barcelona Stadium, which is already operational, has 18 rooms and is located in the technological district of Les Corts, just a few steps from Camp Nou and other FC Barcelona sports facilities. The amount of the transaction amounted to 1.5 million euros.

In financial terms, Hoteles Bestprice has experienced significant growth, with investments that have reached a record high in its results. The company, which is listed on Euronext Paris, closed 2023 with a turnover of €5.5 million, up from €4.2 million the previous year. A figure that the chain expects to increase in 2024 to seven million euros. In addition, the company expects to double its EBITDA by 2026.

In addition to its expansion in Barcelona, Hoteles Bestprice is developing three new projects in Madrid, Málaga and Barcelona, which reinforces its growth strategy and its offer of deluxe stays. The chain operates other boutique establishments in several Spanish cities, including Madrid, Girona, Valencia and Santillana del Mar.

According to data at the close of 2023, the hotel sector in Barcelona recorded an investment of 517.6 million euros in 2023, which translates into an increase of 118% compared to 237 million euros in the previous year, positioning 2023 as the second year with the second highest investment in the Catalan market since 2019 and only surpassed by the year 2021, which reached €683.7 million.

Barcelona captured 13% of total investment in the hotel sector in Spain, ranking behind the Canary Islands, Balearic Islands, Madrid and Málaga. At the national level, the hotel sector has consolidated its role as the main investment destination, accumulating a total of 4.1 billion euros. In addition, prime yields increased by 50 basis points over the year, reaching 5.25% in both Madrid and Barcelona.

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