Room Mate Hotels launches new brand 'Room Mate Collection' and aims to grow to 35 hotels in the next 18 months
Room Mate Hotels launches new brand 'Room Mate Collection'
The hotel chain Room Mate, chaired by ex-Olympian champion Kike Sarasola, has launched a new brand called "Room Mate Collection" which will be dedicated to 4-star plus hotels. The first two hotels to be included in this new brand will be Giulia in Milan and Gerard in Barcelona, with more to follow in other European cities later in 2024 or early 2025.
Room Mate Collection aims to respond to increasing customer demand
The new brand has emerged as a response to the increasing demand from Room Mate customers for a more design-focused, serene, and elegant experience. Room Mate Collection will retain the same brand essence as Room Mate but will provide a more personalized customer service and "silent luxury" experience.
Room Mate Hotels had a successful 2023
Room Mate had a historic year in 2023, closing the year with a positive net profit for the first time since its inception, with 15.7 million euros of normalized EBITDA and a margin on sales of close to 15%. The company expects this profit to exceed by 53.5% in relative terms by 2024, with a recurring normalized EBITDA of 24.1 million euros.
Room Mate Collection's expansion plan
Currently, Room Mate Collection has only confirmed two hotels, Giulia in Milan and Gerard in Barcelona, with more to be announced later. The company is in negotiations to incorporate new properties in the United Kingdom (London), France (Paris), Italy (Sicily, Rome, and Milan) and Germany (Berlin, Hamburg, or Munich). The company aims to grow mainly in Europe with a focus on cities with high tourism appeal.
Room Mate Hotels aims to grow to 35 hotels in the next 18 months
Room Mate plans to grow to 35 hotels in the next 18 months with an investment of more than 16 million euros. The company is undergoing a rebranding process alongside the launch of Room Mate Collection, with new hotels to open later in the year, renovations in current hotels, new customer service ideas, and technological improvements.
Room Mate's Key Results 2023
Room Mate experienced significant growth in 2023, with a 37% growth in sales and normalized billing of 106.5 million euros, which represented a normalized EBITDA of 15.7 million euros with a margin on sales close to 15%. The company expects to exceed these results in 2024 with 24.1 million euros of normalized EBITDA and a sales figure of around 150 million euros.
Room Mate's Strategic Objectives 2025
Room Mate aims to grow to 35 hotels in the next 18 months and increase its number of rooms from 1,700 to 3,600. The company plans to invest over 16 million euros in the renovation of current hotels and new properties, with a focus on design, comfort, and location.
Room Mate's Commitment to the Environment and Society
Room Mate is committed to sustainability by using 100% renewable energy, manufacturing uniforms from recycled plastic bottles, and offering 100% plastic water bottles from a sustainable brand. The company actively collaborates with organizations such as the Fight Against AIDS Foundation.
Room Mate's Customer Profile
In 2023, more than 2.4 million people enjoyed Room Mate hotels, with 91% of them being international customers and an average age range of between 25 and 54 years. The chain's main visiting nationalities are the United States (14% of turnover), the Netherlands (10%), Spain (9%), and the United Kingdom (8%). In 2024, the company expects a return of the Chinese customer, which is already in the top 3 nationalities of the chain.