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Sercotel enters the beach and will increase its income by more than 29%

Sercotel has closed 2023 with a 33% increase in billing until reaching 124.6 million euros, “a growth much higher than the market average”, as its CEO, José Rodríguez, has highlighted in Fitur. Trend that will continue this year with some expected revenue of 160 million, 29% more, without counting the assets they add in the vacation segment, in which they will take the step after a year preparing their entry into this type of destinations. For all this, Rodríguez has assured that “the company continues to perform very well, so we have no doubt about this good yearwith returns again above the market average, and few doubts regarding 2025with similar figures.”

Sercotel plans to incorporate in this sense “other 12 or 15 hotels for rent and management” for 2024, which are added to the nine from a year earlier. But without a doubt the great novelty for this year, in the words of its CEO, is that “We will stop being a chain of urban hotels to be a hotel chainmaking the same trip on the beach that we have made in the city, given that it is a very fragmented market and there are many opportunities to grow with independent establishments and small chains.”

“The objective is to reach 100 hotels in direct operation by 2025 and double the number of franchisees,” according to José Rodríguez. Currently the chain has 95 in Spain and Andorra, of which it manages and operates 51, has nine projects under construction and 35 franchises.

In the second half of 2023, as Rodríguez has detailed, “we have been working to adapt to the different needs of the beach segment with respect to the urban, such as channels, connectivities, technology, markets, marketing, etc. And we are ready to take the leap.”

José Rodríguez has confirmed that they are working to launch a new franchise model, but it is not ready to be announced yet. Source: Hosteltur.

The expansion team, as announced, “is already working in the market, with the expectation of incorporating this year between three and five top beach hotels, which will increase the income forecast, given that they are not included in the 160 million euros already mentioned. The objective is hotels with between 80 and 250 rooms in the Canary Islands, Balearic Islands and Costa del Sol as areas of preferential action.”

Neither a differentiated brand for the beach nor internationalization… for now

Rodríguez has advanced that “there will not be a new brand for the beach because we do not have enough volume to differentiate brands. Our goal is that our clients continue to trust Sercotel and its differential values -Welcome to your best is our motto- and find on vacation the same as in your business stays in our urban hotels.”

In 2023, the restaurant area has invoiced 25 million euros, and the goal is to double this figure in three years, reaching 50 million by 2026.

He has also recognized that “internationalization is very attractive, it is very popular, because it can also increase the value multiplier, but our shareholding is very stable and we still have a long way to go in the city and beach. Until reaching a turnover of 300 million euros in Spain “It makes no sense to raise it.”

News of the latest Sercotel openings:

– Sercotel incorporates a new hotel in Madrid and grows in MICE

– Sercotel opens its second hotel in Malaga

– Sercotel arrives in Andorra with a 4-star hotel

– Sercotel accelerates its expansion in the Canary Islands with a fourth hotel

Source: Hosteltur



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