HotelBrain Targets 20,000 Rooms in Portfolio by 2028
HotelBrain founder and President Panos Paleologos recently announced an ambitious target to expand the Group’s hospitality management portfolio in Greece and achieve a roster of 20,000 rooms over the next five years.
A leading hospitality management and consulting group in Greece, HotelBrain’s roster currently includes 95 leased hotels (7,300 rooms) in 39 destinations across the country and 2,700 seasonal employees.
First phase of business plan wrapping up
“We are in the process of completing the first and perhaps most difficult stage of our business plan, which is to manage a high number of hotels… Through long-term leases we already manage 1 percent of the total number of hotels in the country,” Paleologos said on Monday during his company’s SYM.POSH!UM, a lavish event attended by partners and journalists, held at the Hotel Grande Bretagne in Athens.
According to Paleologos, HotelBrain is maintaining high growth rates while at the same time enjoying a very healthy financial structure with almost zero net borrowing and high liquidity.
“We are now able to add a large number of hotels to our portfolio of leased properties each year, under a development model we refer to as ‘Plug & Play’,” he said during his speech.
Paleologos estimates that the company in the next two to three years will be able to double the number of rooms in its portfolio (to nearly 15,000) and by 2028 reach the final target, which is to exceed 20,000 rooms and 1.5 million unique guests.
“Until today, HotelBrain accomplishes the goals it sets… The turnover of the hotels under our management tight now exceeds 100 million euros,” he said.
HotelBrain to enter second phase of business plan
Paleologos announced that the second phase of the company’s business plan will focus on providing a “complete hospitality product” to the end customer, be it an individual traveler, a travel agent or a tour operator.
“Our two main pursuits are firstly, to increase the added value of the Group in terms of total spending of our visitors and secondly, to provide upgraded services to the end customer and therefore offer a competitive product of high quality,” he said, adding that the company will achieve its goals with the same methodical approach that it has over the past years.
“That is through strategic partnerships of high economic scale… Our strategic goal is to form a wider ecosystem that will provide a ‘one stop solution’ to the our country’s incoming tourism – a solution that I believe will make a difference,” Paleologos said.
Founded in 2000 by Paleologos, the HotelBrain Group has adopted a “white-flag” hotel management model and can enter into medium or long lease of hotel properties, turning the hotels into stable yield-producing assets, providing a clear-cut income solution to all potential stakeholders i.e. owners, investors, lenders, etc.
The company currently leases hotels of all types in 39 different destinations in Greece, including Crete, Mykonos and Santorini.
HotelBrain also provides consulting services to hotels outside Greece, in countries including Cyprus, Bulgaria, Morocco and Austria.