Closed 2018 with a profit of 22 million, 2.6 times more than the previous year
Hesperia Investor Group (GIHSA) announced on Tuesday that it plans to allocate more than 80 million euros to the renovation and updating of its hotels, both urban and holiday, in the next two years under the investment plan launched by the company , after a relevant year 2018 for the group.
The company closed last year 2018 with a consolidated net result of 22 million euros, which means multiplying by 2.6 times its earnings a year earlier, when it gained 8.2 million euros.
This 168.3% improvement is due, the company said in a statement, the good performance of the business during the year 2018 and the sale of its 8.13% stake in NH Hotel Group for an amount exceeding 200 million euros, in addition to management aspects such as the optimization of financial costs.
During 2018, GIHSA’s global sales amounted to 139 million euros, in line with the 140 million euros of turnover recorded in the previous year. The three areas of its business, both the one of holiday hotels, as the one of urban and F&B, registered a positive contribution to the invoicing.
At December 31, the volume of assets stood at 691 million euros and net worth at 362 million euros. Between 2017 and 2018, the group reduced its bank debt worth 128 million euros.
The net financial debt of the group closed the year at 110 million euros, a volume that allows it to deal with “tranquility” the planned investment plans for the next two years.
“We are at an important moment, with a new exciting business project and very well capitalized,” said the group’s CEO, Jordi Ferrer, who points out that the departure of NH and the relaunch of an independent hotel project have marked a point of inflection in the evolution of the company.
The company has pointed out that the positive behavior of 2018 has been maintained in the first half of this year. The evolution of sales in the urban segment, discounting the effect on the occupation of those on which improvement works have been carried out, is in line with those expected.
Barcelona, the main urban market for the group with eight establishments, as well as Galicia and Andalusia, registered a better performance in relation to the same period of 2018.
In the holiday segment, the figures show a slight decrease in sales between January and June, mainly due to the effects on the works undertaken and in line with the rest of the sector, although “with a clear tendency for improvement” in the last three months .
Hesperia has closed in recent months strategic agreements with Apple Leisure Group (ALG) and Hyatt for the commercialization of part of its portfolio and urban. With ALG, the first Secrets (AMResorts) brand hotel in Europe has just opened, the ‘Secrets Mallorca Villamil Resort & Spa’, and in the coming months the ‘Secrets Lanzarote Resort & Spa’, the ‘Dreams Lanzarote PLaya’ will open its doors Dorada Resort & Spa ‘.
In addition, in autumn it will open the first two Hyatt Regency in Spain: the ‘Hyatt Regency Hesperia Madrid’ and the ‘Hyatt Regency Barcelona Fira’.
Currently, the group has a portfolio of 29 hotels, six holiday resorts located in the Balearic Islands, the Canary Islands and southern Spain (including the recent acquisition of La Manga Club on July 31) and 23 urban hotels located in the main cities of the peninsula.