Spring Hotels has reported a 19% increase in revenue at Mare Nostrum Resort, Tenerife, within a year of its acquisition. The resort also saw a 15% rise in overnight stays, equating to over 43,000 additional room nights. This growth is attributed to Spring Hotels' effective operating model, revenue management strategy, and technology platform, rather than market conditions alone.
The integration of Mare Nostrum Resort has nearly doubled Spring Hotels' operational capacity, maintaining service quality and team stability. CEO Miguel Villarroya highlighted the achievement, stating, "Acquiring Mare Nostrum was an important milestone for Spring Hotels, but the real achievement has been demonstrating what our operating model can deliver at scale."
Spring Hotels has also fulfilled its Environmental, Social, and Governance (ESG) commitments linked to CaixaBank's sustainable financing agreement. Currently, 91% of its suppliers are local businesses, and 75 employees have transitioned from temporary to permanent roles, reinforcing its commitment to sustainable value creation in the Canary Islands.
Looking forward, Spring Hotels plans to refurbish Hotel Cleopatra in Playa de las Américas as part of its long-term investment strategy. Additionally, the group is addressing housing shortages by acquiring two residential buildings to provide 110 homes for employees, supporting recruitment and staff retention.
Villarroya expressed confidence in the company's future, stating, "Our focus is now on continuing to invest in our portfolio, beginning with the refurbishment of Hotel Cleopatra, whilst building on the operational excellence that has underpinned our progress so far."
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