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Sidorme to inject 20 million euros into development

The Spanish group positioned on the budget segment hopes to double its hotel portfolio, which currently consists of 10 properties on the Iberian peninsula, in the next three years.

Sidorme is speeding up development. The hotel group will invest 20 million euros in doubling its portfolio over the next three years. In this way it hopes to reach 20 properties in 2018, versus 10 hotels currently operating in Spain.

Several openings are already scheduled in the months to come. Three hotels should thus open in Madrid, near the Barajas Airport, Puerta del Sol and on the outskirts of the capital, and another in the city of San Sebastian. The development strategy of the Spanish group consists of establishing itself in peripheral areas of urban centers, particularly around Madrid. For the moment the chain does not plan to expand beyond Spanish borders.

Positioned on the budget hotel market, Sidorme inaugurated its first address in 2006 in Barcelona. The group has since expanded its network to the cities of Girona, Viladecans, Valencia, Albacete, Granada, Las Rozas and Madrid.

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