We added assets to the south of Spain, a big location for tourists.”Ĭoll said AMResorts is also “looking at opportunities in Portugal, Italy eventually Croatia, and Turkey,” representing “primary and secondary destinations based on volume that we want to be in. “We were not present in the mainland so we did reinforce our presence in the main destination. “Europe is about traffic and passengers, and Spain is the number one destination in the south of Europe,” Coll told Travel Market Report. The company also marked its entry into the Iberian Peninsula, announcing an agreement to bring the first Alua-branded properties to the Spanish regions of Andalucía and Murcia, beyond the Canary and Balearic Islands and in destinations that cater mainly to Spanish tourists. The three properties will undergo extensive renovations before debuting as AMResorts hotels in 2022. In total, 36 properties were added to the European footprint, representing a combined investment of more than 100 million euros to bring the properties to Secrets Resorts & Spas, Dreams Resorts & Spas, and Alua Hotels & Resorts brand standards.Īs part of its European expansion, AMResorts announced three new properties in the Greek islands of Crete, Corfú and Zante, bringing the first Dreams Resorts & Spas and Alua Hotels & Resorts-branded hotels to the destinations. Indeed, AMResorts more than tripled the European portfolio in 2020, ending the year with 13,590 rooms and becoming the fourth largest hotel brand, by number of beds, in Spain. In Europe we see a lot more instant capital, so that was the high percentage of growth.” “That was the main motivation,” adding that location played a factor, because “in the Americas, banks are holding off on loans and refinancing which prevents us from growing faster. Javier Coll, group president for AMResorts’ Global Business Development, said the coronavirus presented a situation of hotel owners and investors selling hotels at a rate higher than in the past 10 years. Upon completion, the hospitality giant will be on track to reach its goal of 103 branded properties by the end of 2021. The ALG subsidiary ended the year with 69 hotels and a development pipeline of 59 properties in their branded portfolio across Mexico, the Caribbean and Europe, marking an 85% increase in room inventory.Ĭurrently, the AMResorts development pipeline includes 22 new builds and 37 conversions. While 2020 presented many challenges for the travel industry, AMResorts – with brands including Zoëtry Wellness & Spa Resorts, Secrets, and Dreams, among others – closed the year with unprecedented growth.
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