Hamburg, 11th April 2016
The NOVUM Hotel Group greatly surpasses 2015 sales target
March 2016 – The NOVUM Hotel Group grows profitably and ended the fiscal year 2015 with a significant sales growth. Again, sales increased across the Group, and in comparison to the previous year an increase of 53%, achieving a turnover of 101 million EURO.
At the start of 2015, David Etmenan, Managing Partner of NOVUM Hotel Group, made a goal of acquiring 20 hotels by 2018, a target which he achieved by the end of 2015. The NOVUM Hotel Group has thus established itself as one of the largest hotel groups in Germany with currently 75 hotels, and growing.
The NOVUM Hotel Group greatly surpasses 2015 sales target (Image: Fotolia )
In particular, the acquisition and integration of the Winters Hotel Group and their excellent premium products and the taking over of existing hotels in the middle class segment contributed significantly to the strong sales growth. But the existing portfolio shined as well with improved KPI‘s, which resulted to the great overall results in 2015. The group will continue growing through rent and lease contracts in German speaking countries as well as key European hotspots. The first steps abroad have been made this year, with the acquisition of two existing hotels in Vienna and one in Budapest. The NOVUM Hospitality predicts an 18.5% turnover increase for 2016, reaching 120 million EURO.
„We have more than achieved our goals in thr last year and have been able to further expand our market position. In addition to our expansion in Germany, this year we are particularly focusing on expansion to various European hotspots“‚ says Managing Partner and CEO David Etmenan.