Spain: Tech-enabled independent operator Líbere Hospitality Group has raised €6 million, funded internally by the team, to drive the group’s expansion in Europe.
Líbere Hospitality Group [LHG] currently has a portfolio of 37 properties, 15 of them in operation, totalling more than 1,200 units in Spain and southern Europe.
Its three brands – Líbere, B48 and Naitly – will be consolidated under the newly formed LHG identity.
The €6 million capital raise was financed internally by the founding team and employees to “maintain full control of the operation and LHG’s expansion strategy”. It will also serve to accelerate the recruitment of new talent.
It follows the recent openings of Líbere Barcelona Sant Antoni and B48 Abando in Bilbao. Upcoming openings are scheduled Madrid, Ciudad Real and Lisbon.
Jon Uriarte, president and founder of LHG, said: “With this expansion we intend to significantly increase our investment in the development of proprietary technology to consolidate and expand the innovative business model of “Hospitality Tech” both in Spain and Europe. We aim to become the leading European alternative tourism operator and an internationally recognised group in the sector.”
“We aim to end 2024 with more than 1,300 units in operation,” added Antón de la Rica, co-CEO of LHG. He holds the joint position alongside Mikel Rodriguez.
LHG expects to multiply its revenues by six in the next three years, closing 2023 with a turnover of €15 million and reaching break even next year.