AHM forecasts revenue of 35 million this year and will manage 30 hotels by 2027

Source: Jornal Económico

Tourism: An increase in hotel units allows the number of rooms at AHM to increase from 600 to three thousand. “Portugal is increasingly on the map of major operators”, according to the CEO.

Ace Hospitality Management (AMH) expects to end 2024 with a revenue volume of 35 million euros, a figure that represents an increase of ten million compared to the previous year. For this goal to be achieved, the company responsible for managing hotel units [and integrated into the Canadian Mercan Properties] has nine hotels in its portfolio, seven in Porto, one in Évora and the most recent, in Albufeira, acquired by Mercan from April 16 for 13 million euros. “Portugal is in a very positive period within the tourist market and has learned from the mistakes of other countries. We have many international brands and the hotel market is starting to become very sophisticated within the country”, Mariano Faz, CEO of AHM, tells Jornal Económico (JE).

Currently with 600 rooms under management and 450 employees, the objective for 2024 is to reach 900 rooms and add three more hotel units. However, within three years, the company hopes to reach 30 hotels, thus exceeding three thousand rooms and a total of 4,500 workers. “We will have a distribution of 33%, throughout the country, from the North, Lisbon, Alentejo and Algarve”, says Mariano Faz, adding that this entry will also be extended to the Autonomous Region of Madeira, namely in Funchal, with only a presence missing in Autonomous Region of the Azores. “We are not saying no to the Azores, but we have not yet seen an opportunity to enter”, he highlights.

Regarding the nationalities of customers, the CEO highlights that Portugal's natural markets are Spanish, English and French, but that, due to the fact that AHM manages American brand hotels, some units are beginning to register a strong presence of citizens from this region. “In some hotels, we have 50% American customers for two reasons: one because we have the brands that are most attractive to them and because of everything that the country adds to the American customer. The Portuguese speak English very well, they are very welcoming and hospitable”, he highlights.

Read the full interview, here!