HotelBrain wants to raise revenue and add hotels

Revenue of 100 million euros and 100 hotels with 6,500 rooms under its management Hotel Brain wants to achieve by 2023. It already manages 73 hotels with a total of 4,115 rooms in 34 regions of the country, while it is expected to add another five units to its portfolio by the end of the year.

HotelBrain, whose shareholder with 20% is Swissport of the Gryllos Group, is currently the largest hotel company in Greece in number of hotels, the fastest growing in the industry and one of the largest in terms of turnover, number of rooms and staff, stressed its founder and CEO Mr. Panos Paleologos speaking to journalists.

In just 5 years, it has leased a total of 73 hotels, 4,115 rooms, of all types and in all tourist destinations in Greece.

The model of activity is based on the conclusion of long-term hotel leases (+10 years) in developed tourist areas. Through the administrative and management team (90 people) the central support of the hotels is achieved (sales, supplies, IT, technical support, HR, accounting, etc.), while the hotel operation is decentralized to each hotel separately, adapted to each concept and character selected.

During the period 2020-2021, despite the unfavorable conditions prevailing in the industry due to Covid-19, HotelBrain managed to increase the number of hotel leases with 26 new hotels and 1,841 new rooms.

Today, HotelBrain is implementing a development plan, which envisages that during the 2023 season it will have a hotel portfolio of 6,500 rooms with a turnover of over 100 million euros. In fact, answering a relevant question from ot.gr, Mr. Paleologos did not rule out its entry into the Stock Exchange as part of this development plan.

Apart from the same hotel activity, the HotelBrain Group is developing with great success in the “traditional” activity of Total Hotel Management & Hotel Advisory, having a portfolio that includes over 80 cooperating third party hotels.

Mr. Palaiologos also noted that the company is open to taking on “problematic” hotel units in cooperation with the banks and stated that out of the hotels managed by the firm, about 15 that had problems repaying loan obligations, they managed to recover and save them from auction.

The company has the ability, as he characteristically said, to undertake a package of 30 hotels with problems and to help them recover and repay their loan obligations normally.

HotelBrain’s operating model helps hotel infrastructure owners to have a stable and guaranteed income or to successfully manage their loan obligations, while HotelBrain is a reliable solution for hotel infrastructure investors who are looking for either a return, either capital gains or a combination of these, said Mr. Paleologos.

Finally, Mr. Paleologos underlined that HotelBrain has strong cash flow, thanks to the support of shareholders, while he estimated that 2022 will be a very good year for Greek tourism.