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B&B Hotels strengthens its grip on budget hotels in Spain

The B&B Hotels Group is finalizing the acquisition of 7 hotels in the H2 HOTELES chain and will hold 29 establishments in Spain, representing more than 2,700 rooms.

The hotel group continues to invest heavily in Spain and strengthens its presence throughout the country. The new establishments, totaling 600 rooms, are located in Castellón, Elche, Getafe, Granada, Jerez de la Frontera, Oviedo and Rubí (Barcelona province).

Out of these seven new establishments, five are already leased while the other two will be sold soon and then be used on a rental base, in line with the Group's asset-light strategy. This business model is essential to maintain the solid growth and yield rates recorded in the past, and to sustain them in the near future.

Less than three years after its implantation on this market, B&B Hotels is supporting its leadership in this segment. With this acquisition of four Apollo Management and Continental Hotels in 2015 and the acquisition of Sidorme Hotels in October 2016, this new agreement will allow the group to strengthen its presence in the Iberian Peninsula.

"With these new acquisitions, we will continue to offer our customers comfortable accommodations and services of choice and excellence at attractive prices," explains Jairo González, General Manager of B&B Hotels Spain and Portugal.

As of January 1, 2018, the B&B Hotels Group was ranked 14th European hotel group with 442 establishments totaling more than 36,471 rooms, according to data from Hospitality ON.

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