Key Facts :

-* Hotels: 7 -* Rooms: 651 -* Founded: 2004 -* Founder & minority owner : Fernando Rivas CortesSidorme is a young Spanish hotel group whose portfolio currently includes 7 hotels in 6 Spanish cities: Girona, Figueres, Valencia, Albacete, Granada and Barcelona, where it has two properties. Spotting the success of low-cost accommodation in Spain, the company was founded in 2004 by a group of Catalan entrepreneurs including current chairman, Fernando Rivas Cortes, a former Husa Hoteles executive. Sidorme is majority-owned by investment firm N+1, it having bought a 63% share in the company in 2007. The rest is held by Fernando Rivas Cortes, who owns 32%, and Sanalcap Capital Privado, which owns 5%. A quick startSidorme, whose headquarters are situated in Sant Cugat del Vallès, Barcelona, inaugurated its 1st hotel in March 2006, only 10 months after construction works had begun. This hotel, situated in Mollet del Vallès, Barcelona, saw occupancy rates reach 73% in its first year in operation. In 2007 the group opened a further three hotels, equally after only 10 months’ building works. To accomplish this, Sidorme worked with Spanish construction firm Modultec, which specialises in building structures out of pre-fabricated modules, reducing work completion time by up to 50%. Sidorme has since followed expansion through lease agreements with existing hotels as well as new developments. First in its pipeline is a new establishment in the Madrid area, scheduled to be inaugurated within the coming months. Sidorme Madrid Barajas will be located next to Europe’s second largest airport, and will incorporate all the traditional features of the Sidorme brand which include free access to high-speed Wi-Fi, free parking for guests, and coffee free of charge. In charge of the operation for over a year, Rafael Valero, Chief Executive Office, explains that the average...