Azur Boutique Hotel Has Almost Doubled Its Accommodation Revenue and Its Total Hotel Revenue in 2022

ATHENS, Greece--(BUSINESS WIRE)--Regulatory News:

The Azur Selection (ISIN: GRS528003007 Mnemonic: MLAZR) (Paris:MLAZR), a Greek hospitality company recently listed on the Euronext Access + market in Paris, announces that Azur Boutique Hotel, managed and operated by the Azur Selection S.A., almost doubled its Accommodation Revenue and its Total hotel revenue in 2022 compare to 2021 and reached 2.2 million euros revenue.

The Azur Boutique hotel succeeded higher number for the year 2022 than forecast in all hotel performance metrics such as the occupancy room nights (+13%), the average occupancy (+14%) the ADR (+29%) with a total hotel revenue growth of +46% than forecast and +100% vs 2021.

The Azur Boutique hotel has good growth prospects for 2023 with a 13% growth in occupancy rate at the first trimester of the year vs the first trimester of 2022 and 30% growth of the total hotel revenue for the same period.

The Azur Boutique hotel is a new arrival in the heart of the Athenian Riviera in the elegant seaside suburb of Vouliagmeni. A newly built, discretely elegant, luxurious boutique hotel surrounded by pine trees. Just 200 metres from renowned golden beaches, yet easily accessible to the airport, the harbour and the Athens city centre. The property includes a swimming pool, a restaurant/bar with 40 rooms including 8 luxurious suites with private pools. This is the perfect place for business and leisure travellers in search of quality, service and unrivalled comfort, year-round. The Azur Boutique Hotel won Gold as Best Greek New City Hotel at the Greek Hospitality Awards 2020.

About The Azur Selection

The Azur Selection invests in ho The Azur Selection S.A. (MLAZR), recently listed on the Euronext Access + market in Paris, invests in hotels and commercial real estate through a lease and sublease business model. The Azur Selection operates an investment management business through its subsidiaries and associated companies. It focuses on investing in hotels, hospitality and real estate in selected highly commercial geographical areas in Greece, the French Riviera and elsewhere.

It currently manages a portfolio of commercial real estate and hotels in Athens and on the island of Mykonos while maintaining long-term leases with the companies or users of its properties. Its portfolio includes 5 hotels (3 are subleased to a hotel operator and 2 are fully managed), as well as a shopping centre.

The group is managed by experienced executives with knowledge of the Greek and international real estate market.

https://www.azurselection.com/about-azur