Quartiers acting rapidly on new restrictions

Quartiers, listed on Nasdaq First North in Stockholm, has adapted its operations on the basis of the new restrictions from the Spanish government, and has decided to keep its Boho Club (luxury hotel and restaurant on the Golden Mile in Marbella) facilities and the Quartiers Marbella Apartments hotel open. The company has introduced a number of initiatives designed to minimise the impact of the dip in revenue and has adopted measures to maximise cost savings.

In summary, the effects of the restrictions introduced recently are:

• Restaurants and all other non-essential businesses must close at 18:00.
• Hotels may remain open and can continue to serve hotel guests in their restaurants until 22:00, after which a night-time curfew is enforced.
• Incoming international travellers must present a negative COVID-19 test. In addition, it is not permitted to cross municipal borders without a special permit.

In the wake of the new restrictions introduced at the start of last week, Quartiers immediately launched a new concept at its Boho Club focused on Staycation (holidaying in your own town). Under the new concept, local Marbella residents are offered the opportunity to eat dinner in the Boho Club restaurant until 22:00, when all other restaurants are obliged to close at 18:00. In addition, the company has expanded the number of day-time activities such as its brunch offer and the opportunity for members of a local members’ group to use the Boho Club facilities, which include a complete outdoor gym and a heated pool. The hotel is also well-adapted to the current situation on account of its large garden, lack of lifts and minimal number of general contact interfaces. Last weekend, Boho Club registered an occupancy level of 55%, with occupancy on the Saturday reaching fully 70%.

“The encouraging feedback from the guests demonstrates that the concept is working, in spite of a minimal marketing period. If the restrictions remain in effect, we believe that the concept will become even more popular over the coming weeks. We have a clear competitive advantage, which, despite the prevailing circumstances, is reinforcing our brand and putting us in a position to increase our market share, even though the market in general has contracted significantly in the short term,” relates Marcus Johansson Prakt, CEO of the company.

Quartiers continues to operate its apartment hotel with an appreciably reduced staff. The change has been positively received, with customer satisfaction remaining at a high level.

Quartiers will publish additional information subsequently, as and when the conditions change.