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aBusiness.H

SPAIN - Economy

Francisco Albertí

Managing Partner, aBusiness.H

Bio

With 35 years of professional career, mainly in the hospitality sector, having developed his career as Director of Corporate Development at RIU Hotels (1994-97), Meliá Hotels Internacional (2006-08) or Iberostar Group (1999-2005 and 2009-19) until joining KPMG in 2019 as Partner – Head of the Balearic Islands office and in Corporate Finance area for hotel transactions until the end of 2022, as well as in the oil sector at BP Oil, in its service station Retail business, as Operations Area Manager and Country Marketing Manager, in Spain (1989-1994) and in Venezuela (1998) respectively. With extensive experience in the development and growth plans of hotel chains globally, as well as an important network of contacts among investors in the hotel sector, he creates in 2023, together with his partner Armando Lasauca, the M&A boutique advisory firm for hotel transactions aBusiness.H where he is Managing Partner at present. He has a degree in Law from the University of the Balearic Islands and a Master’s Degree in Accounts and Auditing from the Pontifical University of Salamanca in Madrid. He has also been a member of the Committee of Experts of the regional Government of the Balearic Islands, in 2005 for the study of the regulation of the “All Inclusive” modality in hotels, and a speaker at several seminars and sector conferences such as the First World Conference on Sustainable Tourism in Lanzarote ( Canary Islands ) in 1995 and author of the book “Strategic study of the tourist market of Quintana Roo – Riviera Maya” ( Mexico ) in 2007. He is 59 years old and has four daughters.

"aBusiness.H, a division of Grupo aFinance, specializes in hotel transactions and consultancy within the hospitality sector."

TBY talks to Francisco Albertí, Managing Partner of aBusiness.H, about opportunities in Mallorca, sustainability, and tourism.

What significance does Mallorca hold for aBusiness.H, and what value does it offer?

aBusiness.H, a division of Grupo aFinance, specializes in hotel transactions and consultancy within the hospitality sector. Our services encompass facilitating hotel purchases and sales, sourcing management operators, also for leasing, and advising on expansions, franchise contracts, and joint ventures. While our primary focus is on Mallorca, as we are based here, we also serve clients globally, including mainland Spain, Europe, and the Americas. Our strategic location in Mallorca as a historical tourism leader allows us to leverage the vibrant tourism market while maintaining a global reach. Established just over a year ago, our division’s journey is still in its early stages. Our portfolio focuses on sourcing hotel operators, facilitating hotel sales, and offering consultancy for companies aiming to expand in Spain. We assist in identifying management opportunities, forming partnerships with local hotel chains and individual hoteliers, and facilitating franchise agreements. Spain has been a premier tourist destination since the 1960s, leading to a high concentration of hotel properties; however, there are relatively few companies specializing in hotel management, presenting significant opportunities for both Spanish and international firms. Recently, major companies like the Hyatt Group have expanded their presence in Spain, highlighting the market’s growing interest and potential.

What current trends are you observing in the hotel investment sector?

The hotel investment sector has two primary focuses. First, there is substantial interest from international investors, including investment funds, private equity firms, and family offices. These investors recognize the hotel sector’s resilience and growth, nearly returning to pre-pandemic business volumes in 2023, with some destinations exceeding previous records. As a result, many investors who previously overlooked this sector are now actively considering hotel investments. Spain, in particular, is a prime region for investment due to its legal security and advanced infrastructure, outperforming many EU countries in healthcare, communications, transportation, and security. This has led to a surge in investor demand in the Spanish market. While investment funds seeking distressed opportunities face challenges due to limited availability and high prices, family offices and private equity firms with long-term strategies have seized various opportunities. Notably, Mexican investors have made significant investments, including two major projects involving international brands such as Four Seasons, exemplifying the strong investment interest in Mallorca.

How is aBusiness.H contributing to fostering trends such as sustainability and digitalization?

Sustainability and the circular economy have become crucial considerations for companies, including those in the hospitality sector. Hotel guests increasingly prioritize environmental and social responsibility, reflecting evolving industry standards. As advisors in hotel transactions, we are attuned to these requirements, assisting clients in meeting them by providing guidance or sourcing operators who prioritize sustainability and energy efficiency. Investors are increasingly reluctant to engage with assets that fail to meet these modern standards. Digitalization, while seemingly less connected to real estate assets, is also vital. International hotel groups with extensive chains and loyalty programs expect partner hotels to stay current with digitalization trends to align with brand practices and meet modern travelers’ expectations. Embracing digitalization is essential for hotels to remain competitive and maintain partnerships with major hospitality brands.

Regenerative tourism and its positive impact on communities is also under discussion. How do you foresee this trend translating into the hospitality sector?

Mallorca has been at the forefront of exploring regenerative tourism and its effects. The Balearic Islands and Spain illustrate both the positive and negative impacts of tourism on communities. Historically, the Spanish government may have underprioritized tourism-related issues, such as the effect of vacation rentals on major cities, but the rapid growth of tourism is now undeniable. Over the past two decades, tourism in the Balearic Islands has surged, partly due to the increase in tourist housing. However, this growth has also highlighted negative community impacts. Boutique hotels have emerged as a positive response, offering sustainable alternatives to large-scale tourism. The rise in tourism has prompted both public and private sectors to address its negative impacts on communities. Balancing tourism development with the preservation of cultural and environmental integrity is essential, and initiatives promoting regenerative tourism are crucial to achieving this balance, like the first measures that local authorities will start to take in order to control and facilitate the access to the housing for locals and the control of increase of tourism capacity and number of visitors

How do you envision the future of the aBusiness.H division, and what projects will come in the following year?

We have established ourselves as a trusted advisor for all clients investing in the hotel sector in the Balearic Islands, Spain, and internationally. There is significant interest from brands and international operators looking to enter the Spanish market, with many leading global players yet to establish a presence here. aBusiness.H sees a promising future founded on two pillars: the strong reputation of the aFinance Group and our extensive experience and expertise with prominent consulting brands.

What advice would you give to investors interested in Mallorca?

Despite current socio-political uncertainties and global conflicts, tourism remains resilient. Even in times of instability, tourism continues to thrive as people seek travel and new experiences. Spain, renowned for its hospitality, remains a leading destination. The future of the industry is hopeful, with a growing trend toward new and experiential forms of tourism that is reflected in investments in experiential hotels in less conventional areas. Investors should recognize Mallorca’s enduring appeal and the opportunities it presents for innovative tourism ventures.

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