Spanish hotel group Room Mate has launched into the Swiss market, adding its first hotel in Geneva.
The signing of Hotel Marmont in the city follows hard on the heels of a deal to add twelve hotels in the Spanish city of Valencia, putting Room Mate on a solid growth path. In 2024, the group delivered revenues of EUR128.5 million, up 23% on the previous year, with normalised ebitda of EUR28.3 million. For 2025, it is expecting to grow revenues to more than EUR150 million.
A planned refurbishment
The new Geneva hotel has 104 rooms, and is centrally located just off the Rue du Rhone and a short stroll from the vistas offered by Lake Geneva. Plans have been put in place to completely refurbish the property, before launching it under the Room Mate brand in early 2026.
“This is a great milestone for Room Mate,” said the company’s leader, Kike Sarasola. “We are very happy with the arrival in Switzerland, one of the world’s top tourist destinations and a beautiful country.”
In 2022, new shareholders acquired the Room Mate business, providing a stronger financial footing from which to grow. The new owners have supported a significant investment programme to upgrade hotels, and strategically acquire new ones. At the same time, Room Mate also partners with a number of institutional landlords across Europe, including Axa Real Estate, BNP Paribas, Generali, Grosvenor, Investire SGR and Prelios SGR.
During 2024, the company refurbished its 285 room Room Mate Aitana, in Amsterdam, as well as two hotels in Florence, the Luca and Isabella. Also receiving a refresh was Room Mate Leo in Granada.
In addition to its new purchases in Valencia, Room Mate has also opened its Palazzo Dei Fiori property in Venice recently, along with its Lime Tree boutique hotel in London’s Belgravia district. Joining the portfolio shortly will be Room Mate Mia, the group’s second hotel in Rome. Properties in Paris and Sicily are also in planning.
Currently, Room Mate has 33 hotels across 15 city markets in six European countries. The brand delivers hotels as homes, aiming to deliver a stay that is defined by a welcoming spirit, in interiors that are strong on design.
Performing strongly
During 2024, the group recorded more than 1.22 million visitors to its hotels, who stayed an average 2.5 nights. It achieved an occupancy level of more than 86%, with Italy and Spain the top performing markets. In particular, Room Mate hotels in Madrid, Barcelona, Valencia and Malaga performed strongly.
Sarasola is keen to grow Room Mate further, adding: “We want to expand in strategic cities in Europe, such as Lisbon or Paris, as well as explore new markets, such as Germany, and continue to grow in destinations where we are already strong, through the purchase, rental or management of hotels or hotel chains.”
