Gaiarooms buys two Bilbao properties, now runs 31 units
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Gaiarooms keeps pushing in Bilbao. The operator just added Basque Boutique and AliciaZZZ, two properties totaling 14 rooms to the 17 it already ran at Apartamentos Olivia. The result: 31 units under its management in the Basque capital, as reported by Hosteltur.
The numbers speak: Basque Boutique, with 8 rooms, posts an average rate of €91, AliciaZZZ, 6 rooms, at €84. Both boast occupancyOccupancyOccupancy is the percentage of rooms sold out of those available over a period. It is one of the three basic metrics alongside ADR and RevPAR. On its own it says little, because filling the hotel by giving rooms away... above 95%. That kind of performance invites more. Indeed, Gaiarooms is studying three more properties in the city and stays on track to reach 4,500 units by 2028.
My take: concentrating product in high-demand urban destinations like Bilbao is not a fad, it's a logical play. Occupancies at 95% leave little room for error, and scale brings efficiency. Let's see how these two newcomers fit into their revenue model. For now, the move looks like a solid bet.
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