Room Mate Group closes the best year in its history exceeding 107 million turnover

Sarasola plans to double its size in the next three years

Room Mate Group, the brand integrated by Room Mate Hotels and Be Mate Apartments, has managed to overcome the barrier of 100 million euros of turnover in 2019 for the first time, obtaining the best result in its history with revenues of 107.6 million , 23% more than in the previous year.

After his commitment to the opening of affordable hotels around the world and the impulse of the tourist apartment company, the founder and president of Room Mate Group, Kike Sarasola, has assured in an interview that the next step will be to incorporate hostels into the business .

«We are preparing a new line. We know how to manage buildings very well, such as hotels. Then we have moved to apartments and there is some leg, which are probably hostels,» said Sarasola, who has remarked his desire that in the future the chain You can group from hostels to five star hotels.

With 26 hotels operating in seven countries, the group has closed the best year in its history with a turnover of 107.6 million euros, representing an increase of 23% over the previous year, of which 101.8 million They correspond to Room Mate Hotels, with an increase of 23%, and the other 5.8 million to Be Mate Apartments (35% more), which has opened seven apartment buildings in 2019.

According to the company’s forecasts, the turnover could reach 130 million this year, of which 120 million correspond to Room Mate Hotels and the remaining ten million to Be Mate Apartments.

In addition, the company has recently announced the creation of its new Room Mate Beach Hotels brand, whose starting point will be the Room Mate Olivia hotel in Calviá (Mallorca) next June.

More than 1.2 million people have passed through the hotels and apartments of the company, the Americans, with 14.25%, the Spaniards (11.16%) and the British (8.49%), the main Hotel guests.

On the problems in Catalonia for the protests after the sentence of the ‘procés’, Sarasola has lamented that the group suffered the consequences of the riots and that «a year that was going to be fantastic has passed to a good year», with a growth that It has gone from the expected 15% to 9%. However, it has highlighted the power of the «Barcelona brand» and the rapid recovery of the city after the incidents.

OBJECTIVE: DOUBLE YOUR PORTFOLIO IN THE NEXT YEARS

Looking to the near future, the group has signed ten hotels whose opening is planned for the next 18 months in Spanish cities such as Madrid, Malaga, San Sebastian and Las Palmas de Gran Canaria, as well as in international destinations such as Rome, Paris, Porto and Lisbon.

In addition, the company is in advanced negotiations to close another ten projects, so it would double in size, from more than 1,900 current rooms to more than 4,700 in three years.

For its part, Be Mate Apartments, is immersed in an expansion plan with the opening of 16 apartment buildings in the next 18 months, in countries such as Mexico, Italy (Venice Rome and Naples) and Spain (Madrid, Malaga, Granada and Minorca).

Although according to Sarasola they are «open to everything», at the moment it totally discards a possible IPO of the company or any type of sale. «At the moment, we are not going to look for partners and in 2023 we will see, but we are open to anything,» said Sarasola.

 MORE DIALOGUE IN THE SECTOR

Sarasola has insisted on the need for the new Executive to be open to make all those involved in the tourism sector, from authorities, to businessmen or the cities themselves, to dialogue and establish communication and understanding channels so that tourism remains one of the engines of the economy.

To do this, Sarasola has advocated that tourists be shown that Spain has evolved and that it is no longer just a ‘sun and beach’ destination but can offer alternatives and new incentives to repeat destination.

«The problem was when the sector was stuck and was not dynamic,» said Sarasola, who has argued that in Spain «things have been done well.»