The Vila Galé Group ended 2022 with 135 million euros in revenue, almost double the 59 million euros achieved in 2021.
This number is 18% higher than in 2019, before the pandemic. For 2023, the hotel chain is “optimistic”, but not “euphoric”. It will increase wages by 11% and set a minimum wage of 900 euros.
At the beginning of 2021, Vila Galé’s forecasts pointed to a 10% drop in revenues last year, but the scenario turned out to be reversed. “I was completely wrong in the predictions, but that’s good. Because when we started 2021, we were still very much in the aftermath of the pandemic. The first quarter was quite weak”, said Gonçalo Rebelo de Almeida, administrator, in a meeting with journalists this Wednesday.
Revenues reached 135 million euros in 2022, almost double the 59 million euros reached in 2021, and 18% above 2019 figures. Adding Portugal and Brazil, where Vila Galé operates, revenues amounted to 218 million euros euros. “What happened in 2022 was a pleasant surprise. From March and April, things started to improve at a pace that exceeded expectations”, said Gonçalo Rebelo de Almeida.
In 2022, the hotel chain sold “practically” one million nights, totaling “close to two million overnight stays” and around 670,000 customers in all 27 hotels it has in the country. Even last year, the average price increased by 14%, said Gonçalo Rebelo de Almeida.