Sercotel is embarking on a strategic transformation as tourism enjoys a robust upswing. The Gallardo family, already at the helm of the pharmaceutical firm Almirall, has steered the group through a three-decade focus on city hotels. Now, with a clear move toward the holiday sector, the company aims to launch three to five projects in sun-and-beach destinations this year, as CEO José Rodríguez outlined during a recent briefing ahead of the International Tourism Fair in Madrid. The fair is set to run this week, highlighting the sector’s momentum.
A dedicated expansion department has been established to accelerate growth in the vacation segment. The initial focus will be on destinations in the Canary Islands, the Balearic Islands, and the Costa del Sol, with prospective properties ranging from 80 to 250 rooms. Additional locations remain possible as the strategy unfolds.
Our company has been working to enter the sun and beach space for a year. The plan is to shift from a portfolio centered on city hotels to a diversified hotel chain. A comprehensive assessment of each destination has been completed, examining the density of group hotels versus independent ones across potential markets. This same due diligence is now being applied to beach destinations, building on the company’s prior city-hotel experience.
Until now, Sercotel has focused exclusively on urban properties. The group operates 86 facilities, with 51 directly managed and 35 franchised sites. Nine additional projects are under construction. The company’s path includes continuing expansion within the urban segment, aiming to add 12 to 15 more urban properties this year while broadening its footprint into leisure hotels in the sun belt.
record income
The group is riding the wave of sector growth and has posted a new sales record. Sercotel reported a turnover of 124.6 million euros, marking a triple-digit leap year over year. Projections indicate this momentum will endure, with anticipated revenue of around 160 million euros and an expected annual growth near 30 percent for the third consecutive year. The leadership remains confident about 2024 and 2025, signaling a strong outlook for the near term.
Strategic planning shows that international expansion was considered but not pursued at this stage. The company opted to maximize growth potential within Spain first, citing that cross-border expansion requires reaching higher turnover thresholds before proceeding. Sercotel believes there is ample room for advancement within the Spanish market and maintains a cautious stance on early internationalization until turnover surpasses the 300 million euro milestone. This approach aligns with sustaining momentum while ensuring disciplined expansion across both city and leisure sectors. The information above draws on the organization’s public disclosures and executive statements from recent presentations at industry gatherings.