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Casual Hoteles closes the summer season with historic figures and anticipates an extraordinary annual closing.
05/10/2023
As of October 5, 2023, everyone was expecting very good summer figures, but the results have exceeded the already high expectations. At least, for the Valencian hotel company Casual Hoteles , which is celebrating its 10th anniversary this year.
According to Juan Carlos Sanjuán, president and founder of Casual Hoteles, “ if there are no unforeseen events, 2023 is going to be a historic year for Casual Hoteles, and we estimate closing the year with an EBITDA of 6.5 million euros. After overcoming the pandemic, the company is healthier than ever, and the new additions are helping to consolidate results that are absolutely exceptional for a chain of 24 hotels and 890 rooms. Especially considering that we specialize in city tourism hotels, although some are located in beach areas .”
An excellent summer :
Casual Hoteles' revenue from July to September was €9,080,198, compared to €7,387,733 in the same period last year; a 22.91% increase compared to 2022.
This marked improvement has been influenced by a highly professional management system, which, thanks to technology, allows for very thorough expense control; the success of the sales policy, which stands out for its highly dynamic revenue management ; the consolidation of the Italian market, which increased its market share by 33% in the three summer months; the capture of new source markets such as the North American market, which has grown by 47% during that period; and the widespread acceptance of the Be Casual loyalty program, which in less than a year of operation has achieved a repurchase rate of 16.72%, a significant amount for city establishments.
However, what has contributed most to the excellent results has been the increase in demand and REVPAR, with significant increases in July, August, and September compared to 2022:
A historic year :
These excellent results add to the positive figures accumulated since the beginning of the year. Thus, Casual Hoteles' revenue from January to September was €23,116,661, compared to €16,613,462 in the same period in 2022, representing a 39.14% increase over the previous year.
Regarding EBITDA, the figures remain extraordinary, reaching €5,361,165 from January to September, a figure 34.61% higher than the €3,982,667 figure for 2022 during the same period.
An unprecedented September :
All these figures demonstrate a complete recovery in city tourism, which stands out compared to sun-and-beach vacations due to its less seasonal nature, as it increasingly extends throughout the year.
Furthermore, it's worth noting that a trend that had been suspected for some time now has emerged in 2023, but which has been confirmed this year. We're referring to September's positioning as the preferred month for many people to enjoy their vacations.
In the case of Casual Hoteles, this feature has become evident at the income level, being the month of the summer season that has grown the most in this concept, going from 2,496,740 euros invoiced in 2022 to 3,172,530 * euros in 2023, 27.07% more than the previous year.
For the Valencian company, high demand this month has resulted in a significant increase in rates, bringing the REVPAR for September to €119.45, the highest of the three summer months, and higher than the €98.42 rate for the same month last year.
Closing forecasts for 2023 :
If the fourth quarter of 2023 performs as expected and forecasts are met, Casual Hoteles could close a historic 2023 with an EBITDA of €6.5 million, compared to the €4,248,536.67 million achieved last year.
Results in figures:
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.
Note: Data for 2022 does not include the Casual Rinascimento Firenze hotel, which opened in December of that year. The Casual Raizes Oporto was considered from September onwards, when it opened.
According to Juan Carlos Sanjuán, president and founder of Casual Hoteles, “ if there are no unforeseen events, 2023 is going to be a historic year for Casual Hoteles, and we estimate closing the year with an EBITDA of 6.5 million euros. After overcoming the pandemic, the company is healthier than ever, and the new additions are helping to consolidate results that are absolutely exceptional for a chain of 24 hotels and 890 rooms. Especially considering that we specialize in city tourism hotels, although some are located in beach areas .”
An excellent summer :
Casual Hoteles' revenue from July to September was €9,080,198, compared to €7,387,733 in the same period last year; a 22.91% increase compared to 2022.
This marked improvement has been influenced by a highly professional management system, which, thanks to technology, allows for very thorough expense control; the success of the sales policy, which stands out for its highly dynamic revenue management ; the consolidation of the Italian market, which increased its market share by 33% in the three summer months; the capture of new source markets such as the North American market, which has grown by 47% during that period; and the widespread acceptance of the Be Casual loyalty program, which in less than a year of operation has achieved a repurchase rate of 16.72%, a significant amount for city establishments.
However, what has contributed most to the excellent results has been the increase in demand and REVPAR, with significant increases in July, August, and September compared to 2022:
REVPAR | 2022 | 2023 |
July | 95.86 | 105.44 |
August | 100.85 | 108.08 |
September | 98.42 | 119.45 |
A historic year :
These excellent results add to the positive figures accumulated since the beginning of the year. Thus, Casual Hoteles' revenue from January to September was €23,116,661, compared to €16,613,462 in the same period in 2022, representing a 39.14% increase over the previous year.
Regarding EBITDA, the figures remain extraordinary, reaching €5,361,165 from January to September, a figure 34.61% higher than the €3,982,667 figure for 2022 during the same period.
An unprecedented September :
All these figures demonstrate a complete recovery in city tourism, which stands out compared to sun-and-beach vacations due to its less seasonal nature, as it increasingly extends throughout the year.
Furthermore, it's worth noting that a trend that had been suspected for some time now has emerged in 2023, but which has been confirmed this year. We're referring to September's positioning as the preferred month for many people to enjoy their vacations.
In the case of Casual Hoteles, this feature has become evident at the income level, being the month of the summer season that has grown the most in this concept, going from 2,496,740 euros invoiced in 2022 to 3,172,530 * euros in 2023, 27.07% more than the previous year.
For the Valencian company, high demand this month has resulted in a significant increase in rates, bringing the REVPAR for September to €119.45, the highest of the three summer months, and higher than the €98.42 rate for the same month last year.
Closing forecasts for 2023 :
If the fourth quarter of 2023 performs as expected and forecasts are met, Casual Hoteles could close a historic 2023 with an EBITDA of €6.5 million, compared to the €4,248,536.67 million achieved last year.
Results in figures:
Magnitudes (in euros) | 2022 | 2023 | Increase |
Income July, August and September | 7,387,733 | 9,080,198 | + 22.91% |
Income from January to September | 16,613,462 | 23,116,661 | +39.14% |
September income | 2,496,740 | 3,172,530 | +27.07% |
EBITDA from January to September | 3,982,667 | 5,361,165 | +34.61% |
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.
Note: Data for 2022 does not include the Casual Rinascimento Firenze hotel, which opened in December of that year. The Casual Raizes Oporto was considered from September onwards, when it opened.
