Company description

Boho Club is Quartiers’ operating company for the hotel and restaurant project in the Golden Mile area of Marbella, where Quartiers is currently developing part of the Centro Forestal Sueco property. The company was founded in 2018 and is 20 percent owned by Raouf Amer Lotfi, who has extensive experience of the hotel and restaurant industry. All key personnel have been employed by the company. These include Marie Rodoni, who was previously manager of the Columbus Hotel in Monaco and director of the Elite Palace Hotel in Stockholm, and the Michelin-star chef Diego del Rio.

Refurbishment of the hotel and the two restaurants is underway, with opening expected in 2019.

Background to Quartiers’ ownership

Ownership of Boho Club comes under the company’s Property Refinement segment. The property where the business is being developed is unusual with regard to planning, as a new local development plan is expected for Marbella in the next three years. The new local development plan is expected to have good opportunities for Quartiers to regain the same construction rights as in the 2010 local development plan, which was previously scrapped. Having a controlling stake in the operating company gives Quartiers greater control over the project, increasing the flexibility as property owner to fully leverage the potential value of the property in the short and long term. In addition, the current partnership and extensive experience of key personnel mean the operating company has the necessary experience to meet the requirements for an exclusive five-star design hotel.

Market and competition

The Marbella hotel market is highly international, with international guests accounting for over 80 percent of guest nights. Compared with other European destinations, Marbella is especially focused on the luxury segment and ranks number two in Spain for sales of exclusive products and services, with around one-third of total sales in Spain. Within walking distance of the planned hotel is Puerto Banús, which has one of the world’s highest concentrations of luxury goods shops per square metre.

Digitalisation has given affluent international consumers greater flexibility to travel, which has helped reduce seasonal variations in the higher Marbella segment. This is particularly reflected in the majority of all luxury hotels in Marbella being open all year round, and through established brands such as W Hotel, Club Med and Four Seasons working on extensive hotel projects that are due to open within the next few years.

In the restaurant market, as with the hotel segment, the market for restaurants in the top segment is growing. When they choose a restaurant, the customer group in this segment is often looking for a unique and special experience in addition to high-quality food and drink.

The range of new and established luxury hotel and restaurant brands is both expected to increase competition for Boho Club and to boost demand for the product that is being developed at the property. This is mainly due to the positive impact that these developments are having on Marbella’s brand as a tourist destination, which in turn is expected to boost travel to the region.