The recovery of tourism experienced this year and the digitalization of a good part of the tourist processes is already noticeable in the accounts of the companies dedicated to lodging. Limehome, one of the tourist accommodation firms with the greatest presence in Europe, closed the 2022 financial year with a growth in its turnover of 300%, which allows them to continue offering fully digitized designer apartments and flats. With the year closed, it now focuses on 2023, when it expects to open another 600 new furnished apartments in the Iberian Peninsula alone.
Limehome’s commitment to ‘serviced apartments’ -apartments with fully digitized services- closed last year with almost 600 new apartments in 24 European cities, to exceed 3,300 in seven countries: Germany, Austria, Belgium, Spain, Hungary, Countries Netherlands and Portugal. The occupation of its properties was around 90% after growing almost 20 points compared to the previous year, due to fewer restrictions.
In our country, the new openings have focused on places where it already had apartments, especially Madrid and Barcelona, cities in which it has experienced strong growth. The openings expand to Valencia, Malaga, Seville and Granada; and added new locations to its portfolio such as Palma de Mallorca, Haro (La Rioja) or Jerez (Cádiz). It has also landed in Porto (Portugal), a milestone that has allowed them to reach 1,000 available apartments in the Iberian Peninsula.
It will invest 45 million euros throughout Europe
The increase in its continental operations and its extensive presence in Spain, the country that is leading the tourism recovery in Europe, has enabled it to triple its turnover in each of the quarters of the year and ended the year with a positive EBITDA despite being a company still growing and have made significant investments in technology or brand experience.
After completing the first phase of its expansion in Germany and reaching key cities such as Amsterdam or Budapest, plans for 2023 include investing another 45 million euros to grow in Portugal and Italy and continue its expansion in markets where it is already present. In Spain, the company focuses on the ‘leisure’ segment with a view to attracting a public that seeks to compare leisure and relaxation, and will centralize its investments in the Balearic Islands, the Catalan coast and southern Andalusia, without ruling out opportunities in the provincial capitals .
The ‘proptech’ company also intends to use this capital to execute strategic acquisitions of market operators, and expand the scalability and high level of service of its technology platform. To comply with its aircraft, it has been reinforced with 40 new employees, going from 150 to 190 in twelve months, including international experts with wide recognition in the sector.
Financial support is secured by HV Capital, Picus Capital and Lakestar, who renewed their commitment to limehome in the fall. In addition, they add the AW group, Rostamani Group and Capital Four as new investors. Limehome offers stays in fully equipped suites, designed for short or long stays and with high standards in comfort, design and functionality. These are offered at the price of a standard hotel room that is accessed with a 100% digital purchase process.
