Catalan hotels Bestprice seek €2.5 million from retail investors to continue growing

BarcelonaThe Catalan hotel chain Bestprice has launched a campaign to attract new retail investors through a €2.5 million capital increase. The hotel company boutique –that is, with smaller establishments but with a very similar design– which has eight hotels spread between Barcelona, ​​​​Madrid, Girona, Valencia and also Santillana del Mar, in Cantabria.

The expansion will be carried out with the issuance of new ordinary shares listed on Euronext Paris, the French stock exchange where the company has been listed since October 2022. The price of the new shares will be 2.50 euros and investors who wish to participate will be 000. Its current capitalization is 82 million euros, double that of two years ago.

In a statement sent this Wednesday, the hotel company explained that the objective of the expansion is to strengthen its financial structure, provide liquidity to the listing and continue with its expansion plan in the Spanish market. Bestprice also contemplates a dividend yield of between 5% and 10% per year. The hotel chain paid its first shareholder return in 2023, with a dividend of €260,500, equivalent to half of the net profit obtained in the 2022 financial year.

"a very good opportunity for profitability, growth and support for the Hotels Bestprice project," explained its president, Oscar Sánchez.

"Almost €4.5 million in sales until June."

Bestprice posted revenues of €4.38 million during the first half of this year, 26.2% more than the same period last year, with its gross operating profit (EBITDA) reaching €1.85 million. For the full year, this hotel company boutique The company aims to generate a total turnover of 9 million euros. The company already has eight hotels in operation, but has two more in the construction phase. Its staff consists of 56 people.