4.8 million euros from Santander, CaixaBank, and BBVA for the expansion of Hoteles BESTPRICE

4.8 million euros from Santander, CaixaBank, and BBVA for the expansion of Hoteles BESTPRICE

Issuer

HOTELES BESTPRICE S.A.

The hotel chain Hoteles BESTPRICE, listed on BOLSA EURONEXT PARIS, will allocate the funds to new hotel establishments, aiming to double the EBITDA and achieve a revenue of 10 million euros by 2025.

On November 20, 2023, Santander, CaixaBank, and BBVA banks contribute new funds amounting to almost 5 million euros (4,800,000€) to Hoteles BESTPRICE's expansion plan. The hotel chain has signed agreements with financial institutions and expects to double the number of operational hotels in its portfolio in the coming months. Currently, it operates 5 hotels in the cities of Barcelona, Madrid, Girona, and Valencia, with 3 hotel projects in the execution phase.

The funds will enable the consolidation of its commitment and expansion into new Spanish cities, as well as growth in the cities it already operates in. At the EBITDA level, the company expects to double it once the new projects currently in progress are operational, reaching a revenue of 10 million euros in 2025. Quarterly, Hoteles BESTPRICE has been growing for 8 consecutive quarters by over 20% compared to the same quarter of the previous year.

Key metrics for the first 10 months of 2023:

• Occupancy exceeding 95% in the last 9 months.
• ADR rises in October to 118.85€, and Revenue per Available Room (RevPar) soars in that month to 116.71€.
• 5 operational hotels and 3 more in the execution phase for upcoming openings.
• Hoteles BESTPRICE has 42 employees.
• Market capitalization of 52 million euros.

The hotel chain has just celebrated its first anniversary as a publicly traded company with a 162% growth in market capitalization, reaching 53 million euros. The hotel company debuted with a price of 1€ per share on the EURONEXT PARIS stock market and an initial capitalization of 20.4 million euros (20,400,000€).

Hoteles BESTPRICE has become the first hotel company to distribute dividends after the pandemic and plans to significantly increase shareholder remuneration in the coming years once all the currently under-construction establishments become operational. The company is listed on EURONEXT PARIS, and banking entities such as CaixaBank, BBVA, Santander, Sabadell, Openbank, ActivoBank, and Interactive Brokers support Hoteles BESTPRICE with stock market intermediation on EURONEXT PARIS. The company's ISIN code is ES0105664009, and its abbreviation on EURONEXT PARIS is MLHBP.

It has recently inaugurated BESTPRICE Valencia, becoming a reference in its markets. It has an average staff of 42 employees.

In the words of Oscar Sánchez, President of Hoteles BESTPRICE, "We appreciate the trust, support, and determination of the banks in our business model, allowing us to grow and work with new resources to increase our presence in more cities throughout Spanish territory. Today, our investor shareholders can celebrate the profitability model we offer them and an expansion plan supported by the banks. Our value proposition is modernity, excellence, comfort, and supreme quality of our human team."

Hoteles BESTPRICE is a new boutique hotel chain that disrupts the hotel restoration market with an innovative, unique, exclusive, and highly attractive concept for all customers, along with an appealing growth model for investors. They offer the best hotel stay prices with deluxe rooms and first-class service from the Reception team 24/7, featuring modern facility design and agile, personalized, and professional service from a highly trained team of Guest Services. It has five boutique establishments, BESTPRICE Diagonal and BESTPRICE Gracia, both in the city of Barcelona, BESTPRICE Madrid Alcalá, BESTPRICE Girona, and the BESTPRICE Valencia hotel.