This fundraising will enable the group to "secure its financial situation and pursue its development ambitions both in Europe and globally". This ambition is reflected in the opening of a new asset in Portugal.
112 new rooms in Lisbon
The B&B Hotel Lisboa Montijo, built and promoted by the Casais Group, is located 20 kilometres from Lisbon, the Vasco de Gama Bridge and the largest shopping centre in Europe. The market in the area is marked by strong demand from both business and leisure customers. The health crisis has not impacted the objective of B&B Hotels to reach 10 establishments in this region by 2021; at the time being, there are 6 hotels for a total of 542 rooms and 12 flats. Measures have been implemented in this new hotel to minimise the carbon footprint and thus respond to current environmental issues: "100% plastic-free" rooms, solar panels, etc. With this new opening, the B&B Hotels portfolio has 37 hotels in Spain and six in Portugal, offering more than 4,000 rooms.
180 million euros raised
Thanks to this cash inflow, the group will continue to build and acquire new hotels internationally. B&B Hotels is anticipating the end of the crisis and the return to "normal" by establishing itself in the regions with the highest demand. The group has planned 70 international openings for 2021, particularly in Germany, where the objective is to acquire 300 units by 2030. At present, B&B Hotels is present in 12 countries with 550 hotels (48,000 rooms). Its development ambitions continue to grow, with the group opening an average of one hotel per week.
"We are betting that once we emerge from this crisis, everyone will have only one desire: to travel [...] to visit relatives, for professional reasons or simply for a change of scenery" Fabrice Collet, President of B&B Hotels.
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