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March 31, 2009

Internationalisation helps maintain Spanish hotel chain’s revenue growth

The continuing global expansion of the hotel business Hotusa Group may seem at odds with the current global economic situation, but it is a strategy that appears to be paying dividends, with the company reporting increased revenues during 2008.

The different companies and business areas that comprise the Hotusa Group generated a turnover of more than €748.8 million euros in 2008, representing an increase of 5% over the previous year. The company estimates it will close the financial year with a similar increase in profits.
The hotel division, of which the Eurostars Hotels chain forms part, continues to be at the forefront of the company’s global turnover, contributing close to €220 million euros, with a notable increase of 10% in turnover compared to the previous year. Approximately 50% of the sales from this division have been generated by the chain’s hotels abroad, which is proof of the success of the internationalisation process that the company has supported, and which reduces the effects of the fall in growth experienced in the company’s home country of Spain.
Over the past financial year, the hotel division added a total of 11 establishments to its portfolio, including the Eurostars Panorama (Paris, France), Eurostars BCN Design, Eurostars Ramblas Boquería  (Barcelona), Eurostars Embassy (Vienna, Austria) or the Eurostars Das Letras (Lisbon, Portugal).
In 2009, the Eurostars Madrid Tower Hotel (five star) opened – a striking building with 474 rooms set in one of the skyscrapers in the Cuatro Torres Business Area of Madrid. The smaller 46-room Eurostars Lex (four star) also opened in Barcelona. The coming months will see two more new establishments signifying the debut of the chain in Munich (Eurostars Grand Central – four star) and Budapest (Eurostars Budapest Center – four star).
Internationalisation has also played a key role in the results of the group’s tourist division – formed by Hotusa Hotels, Keytel, Restel and Hotelius.com, amongst others – with a turnover of €529.5 million, 3% more than 2007.
It is also worth noting that, despite the current economic climate, in the first three months of 2009, both Hotusa Hotels and Keytel have significantly enlarged their portfolios. In January and February alone, Hotusa Hotels incorporated 82 new associated hotels, which represents an increase of more than 115% in comparison with the 38 associated members that registered in the first few months of 2008.

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