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In spite of the negative circumstances that have surrounded the sector during 2009 and 2010, Axel Hotels has experienced a very positive advance in the exercise of 2010, specially in the third quarter of the year, which has meant the consolidation of the finantial forecast thanks to, among other reasons, the corporate restructuring assumed during 2009 and beginning of 2010, both at the level of management as well as regarding human resources. Axel Hotel’s income reached 7,1m. euros in 2010, increasing its income in a 26,8 % on the basis of the previous year.
The EBITDA, which shows Axel Hotel’s operational evolution, reflected the strong recovery and a prominent increase of its productivity: the Company generated – at the closing of the exercise 2010 – an EBITDA of more than 100.000 Euros, which had turned out to be negative during the previous exercise.
This growth in the results is due primarily to improved activity of the three hotels (Barcelona, Berlin and Buenos Aires), expansion and renovation of the hotel in Barcelona last July (the hotel increased the number of rooms reaching a total of 105), and the reduction applied in
the corporate structure.
Income from accommodation (rooms) increased by 30.08% from year 2009 to 2010 is a result of improved occupancy and maximizing RevPAR in all hotels. The increase in employment levels in each hotel, allowed the RevPAR (ratio that measures revenue per available room) to have an evolutionary growth from 2009 to date.
Based on this and future growth forecasts, the group Axel Hotels is currently analyzing the international situation to resume its expansion plans, which may be adopted with normality by its current corporate structure, a fact that would represent the entry and consolidation of
company into new international markets.
Expansion
Axel Hotels is planning to start from this year 2011 its international expansion project, in which Axel seeks to export the concept to major cities worldwide. The unique character of Axel Hotels, its heterofriendly philosophy, the Axel ambiance, excellency in service, the great loyalty of its guests who are cosmopolitan and very demanding people, and its excellent value for money, have enabled Axel Hotels to be in the first ranquing position in times of crisis.
Following the example of Barcelona, Berlin and Buenos Aires, all future Axel hotels are planed following the same perspective: design spaces located in avant-garde and cosmopolitan cities, open-minded, tolerant and gayfriendly, with a rich history and an exceptional gay ambience. Thus, the target markets where Axel Hotels may be present in the future are the U.S., Europe and Brazil, notably major cities like New York, London, Amsterdam, Paris, Miami or Madrid.
At present, the idea has been reintroduced in order to be implemented in New York at a medium term with a project in the Axel style that without a doubt is sure to create new expectations for our public.
Vicky is the co-founder of TravelDailyNews Media Network where she is the Editor-in Chief. She is also responsible for the daily operation and the financial policy. She holds a Bachelor's degree in Tourism Business Administration from the Technical University of Athens and a Master in Business Administration (MBA) from the University of Wales. She has many years of both academic and industrial experience within the travel industry. She has written/edited numerous articles in various tourism magazines.
