24/10/2014 – Expansion
Paradores chooses growing through franchising business. The governmental company is in talks with several chains and private investors on adding new establishments to its network in exchange for operating under the brand name of Paradores. First hotel franchises could open at the end of 2014 or at the beginning of 2015, said Angeles Alarco, chairwoman of Paradores, during her hearing at a conference organized by Cehat, Spanish Hotel Confederation.
Mrs. Alarco highlighted, though, that ‘the growth will be restricted’ as the main goal is to preserve the brand’s values. According to a dossier posted on web site of the chain, there is a set of requirements to be met in order to join the network: having an operating four -or more- star establishment, located inside the trading influence of the present network, in a historically important or coastal property close to or in a large city.
Paradores seeks long-term partners, holding first-class establishments or willing to operate in such. In terms of renumeration, the franchisee will pay starting fees and a commission for the brand use, as well as for adaptation and maintenance of the hotel in line with the Paradores standards.
The chairwoman reported a 4% year-to-date increase in international client volume and an 8% rise in the number of Spanish tourists.
Original article: Expansión (by Y. Blanco)
Translation: AURA REE
Source: AURA Real Estate Experts