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Casual Hoteles closes a historic 2023
18/01/2024
As of January 18, 2024. If the summer season figures predicted a very good 2023, the year-end figures have confirmed it.
Casual Hoteles closed 2023 with revenues of €31,575,073, compared to €22,602,177 in 2022; and with EBITDA of €6.5 million, compared to €4.3 million in the same period last year.
According to Juan Carlos Sanjuán , president and founder of Casual Hoteles, “these are excellent results, exceeding our initial forecasts for the year. Among them, I would highlight the success of our entry into Italy, as the opening of Casual Rinascimento Firenze has given us international visibility, allowing us to attract a foreign clientele willing to pay higher rates. After some very challenging years, 2023 has been a year of exceeding all expectations. A trend that, barring unforeseen events, still has room for growth in 2024.”
Entry into Italy, fundamental to the growth of the international market :
One of the factors that explains Casual Hoteles' improved results in 2023 is the 35.51% increase in booking volume in the international market, which has gone from representing 58.7% of total bookings to 64.1%.
The opening of Casual Rinascimento Firenze has played a significant role in this increase, bringing Italians closer to the Casual Hoteles brand and generating a general increase in this market across other hotels in the chain. As a result, 9.8% of the Valencian group's reservations currently come from Italian guests. The average price they pay per stay is €309.62, a figure higher than the average for other markets.
Another advantage derived from Casual Hoteles' entry into Italy has been the 49% increase in reservations from North American clients, which have gone from representing 3.8% of the total to 4.5%. This is because the main outbound customer for Florence is the United States.
The third most important international market for Casual Hoteles is the United Kingdom, which in 2023 increased from 4.3% to 5.7% of total bookings. Its preferred destinations are Benidorm, Valencia, and Malaga.
Excellent price management and recovery of tourism activity :
The growth in the international market has resulted in higher rates. Thus, in 2023, Casual Hoteles' RevPar stood at €90.94 per night, compared to €77.73 per night in 2022. The implementation of new revenue management technologies has undoubtedly been a great ally in this important task of price management.
The recovery in tourism activity has also been significant, which in the case of Casual Hoteles has led to an increase in average hotel occupancy. Thus, while in 2022 this figure was 87.27%, in 2023 it was 89.58%.
In this new landscape, two interesting aspects stand out. First, in 2023, more than half of Casual Hoteles' guests were couples. Specifically, 59.75% of the total. And second, in the last quarter of the year, a new market niche emerged strongly: lonely travelers, who travel alone, representing 22.7% of the total.
Incorporation of two new hotels :
Once things have returned to normal, Casual Hoteles has resumed its expansion goals in 2023. This challenge seeks to achieve solid, sustained, and sustainable growth, with the addition of new hotels in strategic destinations that add value to the company. This has been the case with both the Casual Rinascimento Firenze, with which Casual Hoteles launched its presence in the heart of Italy, and the Casual Ilbira Granada, a beautiful boutique hotel that has allowed the Valencian group to consolidate its offering in four Andalusian provinces.
A record year :
For Casual Hoteles, 2023 has been a historic year that, barring unforeseen events, could be repeated, or even improved, in 2024.
About Casual Hotels:
Casual Hoteles is a Valencian hotel company founded in 2013 by Juan Carlos Sanjuán, with the goal of becoming a benchmark for themed urban accommodations in Spain. All of its hotels feature unique decor inspired by the destinations in which they are located, and offer high-quality standards and central locations at affordable prices.
They are fun, surprising, and provocative, making Casual Hoteles a disruptive chain that, in 2018, was recognized with the Hostelco Award for “Best Hotel Concept”; and in 2023, it won the First Prize for Sustainable Tourism from HOSBEC, in the category of “Best Corporate Social Responsibility Strategy.”
In this regard, the group also stands out for its policy of strong social and environmental commitment through its own Code of Ethics, and for its collaborations with NGOs such as Save the Children and UNICEF, among others. Currently, Casual Hoteles has 24 hotels and 869 rooms in 13 cities in Spain, Portugal, and Italy, of which 1 is owned, 1 is managed, 15 are leased, and 7 are franchised.
Casual Hoteles closed 2023 with revenues of €31,575,073, compared to €22,602,177 in 2022; and with EBITDA of €6.5 million, compared to €4.3 million in the same period last year.
According to Juan Carlos Sanjuán , president and founder of Casual Hoteles, “these are excellent results, exceeding our initial forecasts for the year. Among them, I would highlight the success of our entry into Italy, as the opening of Casual Rinascimento Firenze has given us international visibility, allowing us to attract a foreign clientele willing to pay higher rates. After some very challenging years, 2023 has been a year of exceeding all expectations. A trend that, barring unforeseen events, still has room for growth in 2024.”
Entry into Italy, fundamental to the growth of the international market :
One of the factors that explains Casual Hoteles' improved results in 2023 is the 35.51% increase in booking volume in the international market, which has gone from representing 58.7% of total bookings to 64.1%.
The opening of Casual Rinascimento Firenze has played a significant role in this increase, bringing Italians closer to the Casual Hoteles brand and generating a general increase in this market across other hotels in the chain. As a result, 9.8% of the Valencian group's reservations currently come from Italian guests. The average price they pay per stay is €309.62, a figure higher than the average for other markets.
Another advantage derived from Casual Hoteles' entry into Italy has been the 49% increase in reservations from North American clients, which have gone from representing 3.8% of the total to 4.5%. This is because the main outbound customer for Florence is the United States.
The third most important international market for Casual Hoteles is the United Kingdom, which in 2023 increased from 4.3% to 5.7% of total bookings. Its preferred destinations are Benidorm, Valencia, and Malaga.
Excellent price management and recovery of tourism activity :
The growth in the international market has resulted in higher rates. Thus, in 2023, Casual Hoteles' RevPar stood at €90.94 per night, compared to €77.73 per night in 2022. The implementation of new revenue management technologies has undoubtedly been a great ally in this important task of price management.
The recovery in tourism activity has also been significant, which in the case of Casual Hoteles has led to an increase in average hotel occupancy. Thus, while in 2022 this figure was 87.27%, in 2023 it was 89.58%.
In this new landscape, two interesting aspects stand out. First, in 2023, more than half of Casual Hoteles' guests were couples. Specifically, 59.75% of the total. And second, in the last quarter of the year, a new market niche emerged strongly: lonely travelers, who travel alone, representing 22.7% of the total.
Incorporation of two new hotels :
Once things have returned to normal, Casual Hoteles has resumed its expansion goals in 2023. This challenge seeks to achieve solid, sustained, and sustainable growth, with the addition of new hotels in strategic destinations that add value to the company. This has been the case with both the Casual Rinascimento Firenze, with which Casual Hoteles launched its presence in the heart of Italy, and the Casual Ilbira Granada, a beautiful boutique hotel that has allowed the Valencian group to consolidate its offering in four Andalusian provinces.
A record year :
For Casual Hoteles, 2023 has been a historic year that, barring unforeseen events, could be repeated, or even improved, in 2024.
| Magnitudes (in euros) | 2022 | 2023 |
| Income | 31,575,073 | 22,602,177 |
| EBITDA | 4.3 | 6.5 |
| REVPAR | 77.73 | 90.94 |
| Average occupancy | 87.27% | 89.58% |
About Casual Hotels:
Casual Hoteles is a Valencian hotel company founded in 2013 by Juan Carlos Sanjuán, with the goal of becoming a benchmark for themed urban accommodations in Spain. All of its hotels feature unique decor inspired by the destinations in which they are located, and offer high-quality standards and central locations at affordable prices.
They are fun, surprising, and provocative, making Casual Hoteles a disruptive chain that, in 2018, was recognized with the Hostelco Award for “Best Hotel Concept”; and in 2023, it won the First Prize for Sustainable Tourism from HOSBEC, in the category of “Best Corporate Social Responsibility Strategy.”
In this regard, the group also stands out for its policy of strong social and environmental commitment through its own Code of Ethics, and for its collaborations with NGOs such as Save the Children and UNICEF, among others. Currently, Casual Hoteles has 24 hotels and 869 rooms in 13 cities in Spain, Portugal, and Italy, of which 1 is owned, 1 is managed, 15 are leased, and 7 are franchised.
