Grupo Q will invest almost €90M in three new hotels in Cádiz

Grupo Q will invest almost €90M in three new hotels in Cádiz
Virtual recreation of the 4-star hotel and the shopping center being built by Grupo Q in the old Free Time Residence, Cadiz

Grupo Q hotel division made it through the Covid year with no losses. "We survived 2020 and saved the furniture," says the Chabrera, CEO of the group, who made an ERTE and requested an ICO loan to maintain its operation. The firm currently has the hotels Zahara Beach and Spa (five stars), Tarifa Lances (four stars) and El Cortijo de Zahara (four stars), as well as the tourist apartments Zahara Golf, Sevilla Este and Tarifa Suits, which add 872 beds, all operated by Group Q.

In 2021, the company has taken advantage of the good performance of the real estate sector, although Luis Chabrera clarifies that without reaching the levels of 2019. This year, the occupancy level of its hotels has been 100% in the months of July and August. Its turnover was 38 million euros in 2020 and this year it plans to close with almost 50 million income, 31% more than the previous year.

The company acquired from the Andalusian Government the old Cádiz Free Time Residence, located in Plaza de la Victoria and closed since 2007, for 11.8 million euros. There, Grupo Q is already building a four-star hotel, a shopping center and a parking lot with 250 spaces, a project in which it will invest 50 million euros, which it has financed with the European Investment Bank and the Caja Rural del Sur.

Chabrera explains that the establishment is ready for June 2022 with 280 rooms, which will be operated by the Q Group itself. The shopping center, with 4,000 sqm, is already 80% commercialized, according to the same sources.

The other large hotel project that Grupo Q will undertake will be in the Atlanterra area of ​​Zahara de los Atunes, land that belongs to the municipality of Tarifa (Cádiz). There, the compensation board has already been created on land where an 18-hole golf course will also be built. The company that Chabrera runs will build a five-star hotel with 200 rooms there, in which it will invest 30 million euros.

The third hotel establishment that Grupo Q will undertake shortly is the Event Tarifa, for which it awaits a license from the aforementioned Cádiz city hall. It is a smaller project, since it will have 45 rooms, although the establishment will have four stars and will involve an outlay of 8 million euros. "This hotel will have rooms of 600 square meters and more than 2,500 sqm in outdoor spaces for events", highlights the CEO of the company, who plans to start the works before the end of the year with the aim of completing the works in 2023.

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