The business of the Lopesan hotel chain in the south of Gran Canaria is increasingly declining. The contribution from the Dominican Republic is leaving what Meloneras hotels represent, given that the former IFAs are practically all sold to investment funds to become a management company, as is already happening in the Asian business in Thailand. The financial discipline of José Alba, the new general director with command in place, is noticeable since capital expenses or capital investments, those related to the acquisition or maintenance of physical assets in order to invest in the growth of the company, are They have placed 10,1% in the LS Invest when in 209 it was 188%.
Lopesan Touristik in 2021 took over LS Invest AG, which was the name in Germany of the former IFA Hotels. In the Baltic, it has sold IFA's remaining hotels to Azora, a fund that would be behind other assets in the south of Gran Canaria. Lopesan Touristik has a capitalization at the end of 2022 of 337 million euros. Lopesan Touristik operates in Europe with the company LS Invest AG. For the full year, the company reported that sales were 123,64 million euros compared to 73,79 million euros the previous year. Revenue was 130,56 million euros compared to 86,14 million euros a year ago. The net loss was 7,31 million euros compared to 23,52 million euros in December 2021.
The company's good path could be seen coming when in the first quarter of 2023, the company recorded sales of 25,09 million euros compared to 4,38 million euros the previous year and in that same period. Revenue was 26,66 million euros compared to 5,68 million euros a year ago. The net loss was EUR 2,89 million compared to EUR 14,31 million in the first quarter of 2022.
