A dot missing on the map of Xotels' European hotel portfolio, especially in Spain, was one of our key strongholds, Barcelona. After having looked at several opportunities over the years a strategic partnership has now been signed with the Hotel Grums. A great property with amazing potential, on which we will are now dilligently working to turn around with our hotel management company …
‘We are thrilled adding this beautiful hotel to our portfolio. Barcelona is a market we have been look at for a long time, but it was a matter of finding the right kind of property to complement our portfolio. We have been doing project based restructuration work up till now for some key hotels in the city, but with Grums we are entering in the Barcelona market on a more permanent basis. It really is a fantastic hotel! ' Patrick Landman, CEO at Xotels, comments.
‘It is a very good quality 4 star property. The property is in great condition as it has been well maintained since its opening only 3 years ago. The rooms are well fitted, giving a real sense of luxury, and offer plenty of space. They are a bit larger compared to most accommodation in this market. Moreover it is extremely well located, close to tourist hot spots like the Ramblas and the Old Port, as well as the Fira Trade Fair complex at Plaza España.' Remko West, COO at Xotels, ads.
‘Its strategic location allows us to target both business and leisure travelers, offering a luxury product. There is sufficient option for differentiation between hotel room types to implement comprehensive revenue management tactics, and contribute to a positive development of the average rate during both low and high demand season. Additionally its modest size of 78 rooms means we can yield well during periods of market compression.' RW continues.
Joan Orriols , owner representative for Hotel Grums comments, ‘We are extremely pleased to be working with Xotels to strategically drive our hotel's revenue potential over the next few years. They have built a solid reputation for themselves in adding significant value to a great variety of hotel businesses.'
‘ In the first month we have already clearly seen they have a structural approach into organizing the hotels commercial strategies, and they are implementing key commercial processes to lead to financial growth. The partnership with Xotels is an essential move for us to upgrade our business to another level taking advantage of their vast knowledge and experience.' he finishes.
‘We are now looking forward to the first results of the short term actions we are working on. Barcelona, like the rest of the city break markets in Europe is going into low season, with reduced corporate demand over the holidays and low leisure demand during the first weeks of the year. Promotional campaigns are being launched to offset these periods of traditionally lower occupancy' Patrick Landman notes.
Source: Xotels
