Upscale Gay Hotel Success Story
Despite the difficult global economic climate, the income of upscale gay mini-chain Axel Hotels increased to 7.1 million euros in 2010, representing growth of 26.8% on the previous year.
The growth was achieved primarily due to improved activity of its three hotels (Barcelona, Berlin and Buenos Aires), expansion and renovation of the Barcelona hotel last July and cost-savings in the corporate structure.
The hotel group, which started in Barcelona in 2003 is aimed at the gay market but calls itself "heterofriendly". The chain is described as being "designed for the gay audience, but open to everyone."
Given its success, the group is currently proposing to resume its international expansion plans. Axel's strategy involves bringing its concept to more major cosmopolitan cities worldwide. Future hotels will be planned along the same model, as boutique design spaces, with great service and value for money, all of which have enabled it to succeed in these difficult times.
Markets being considered are the US, Europe and Brazil, in particular, New York, London, Amsterdam, Paris, Miami or Madrid.
Date: 02 April 2011
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