B&B Hotels and Grupo Avintia Real Estate have reached an agreement to jointly develop 10 new hotels by 2025. The first of these hotels, the B&B Hotel located in the Nexum Retail Park complex in Fuenlabrada, is already being built by Grupo Avintia Real Estate, the real estate division of the group. The delivery is scheduled for June 2024.
Upcoming stops? Getafe and Vallecas will be the next locations where construction will begin, and subsequently, 5 more hotels will be added in the Community of Madrid and 2 in Andalusia.
This project consolidates an alliance that began in late 2021 through long-term guaranteed contracts and, together with other collaborations, forms an initial pipeline valued at over 100 million euros. B&B Hotels has 46 hotels in Spain and 11 in Portugal, all under lease, following its “asset light” business model, which is considered key to maintaining strong growth rates. The hotel group’s commitment to Iberia is evident with a strong expansion plan: the hotel chain closed 2022 with 52 hotels, and the forecast is to reach over 60 in 2023.
With this alliance, “Grupo Avintia Real Estate contributes to the development of a leading hotel chain in Spain, such as B&B Hotels, through the expertise of the most cutting-edge industrialized construction system in the market, avíta, from Grupo Avintia. In our role as an industrial group, we collaborate with B&B Hotels in the search for assets, management, and development of intelligent hotels that meet the highest standards of sustainability and energy efficiency, also providing our own construction model that is already a reference in the sector,” explains Antonio Martín Jiménez, President of Grupo Avintia.
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