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.

If you have any questions, please contact:

Quartiers Properties

Marcus Johansson Prakt, CEO
Email: marcus.prakt@quartiersproperties.se
Phone: +46 72 018 5998
Website: www.quartiersproperties.com

The Company in brief
Quartiers Properties is a Swedish property development company with a focus on excellent design and quality, and is active on the Spanish Costa del Sol. The Company was founded in 2014 and has since built up a portfolio of investment properties and project properties. The Company develops, sells and rents out properties.

Quartiers Properties owns and manages Boho Club, which is a boutique resort in Marbella’s Golden Mile district with a restaurant and 30 hotel rooms. The project has won awards for its design and architecture, and since its launch in 2019 both the hotel and the restaurant have established themselves as leading players in Marbella. Visit Boho Club’s website www.bohoclub.com to book a hotel room or reserve a table in the restaurant. The restaurant is open daily, serving breakfast, lunch and dinner.

Quartiers Marbella Apartments is an apartment complex in Marbella’s neighbouring municipality of Benahavís, where Quartiers runs apartment rental operations. The apartments are perfectly suited as short- and long-term accommodation, and are popular among families as well as groups visiting Marbella for leisure purposes, fitness holidays or to play golf. Visit the website www.quartiersmarbella.com to book your apartment.

Hacienda Collection is an apartment project in Benahavís just outside Marbella, where Quartiers Properties is selling apartments that are ready for immediate occupancy. The apartments are located in a gated community boasting views of the Mediterranean. These apartments feature a large, open floorplan with large windows, high-end kitchen, separate laundry room and 2–3 bedrooms. The spacious terraces offer plenty of scope for spending time with family and friends. Please visit the website for further information and to book a viewing, either on site or online: www.haciendacollection.es.

Mangold is the Company’s Certified Adviser. Mangold can be contacted on +46 8 503 015 50 or by emailing ca@mangold.se.