“It’s key to have partners like Altria who can help to shield the financial needs in such an uncertain environment”
Our country is a world tourist power. The tourism sector is in fact the one that provides most employment and contributes most to the Spanish economy with almost 15% of the GDP. It is not surprising, therefore, that in the numerous portfolio of clients that Altria Corpo advises are some relevant companies in this sector.
One of these companies is Torremirona Golf & Spa Resort. We wanted to talk to its General Manager, Yassine Bouallalla, so that he could tell us about his experience with Altria Corpo.
Altria Corpo: Yassine, tell us a little about Torremirona and what your career has been up to now.
Yassine Bouallalla: The Torremirona Golf & Spa Resort complex began its activity in 1989, with the inauguration of the golf course, and later consolidated in 1998 with the opening of the hotel establishment to generate a complete product. The objective has always been to offer a multi-service establishment, with the capacity to adapt to all the needs of both guests and visitors, being a reference point in the territory in terms of the service and quality offered, the deseasonalisation and the link with the territory.
A.C.: It is always said that the secret of the hotel product is the location. You are in Navata, near Figueres, in the province of Girona. What possibilities does this give you?
Y.B.: The complex has a strategic location that allows its users to enjoy the whole province of Girona, while facilitating communication with their respective locations due to the proximity of the AVE and motorway services. However, location is not everything, and we complement the fact that it is not a coastal product with many different products and services.
A.C.: You’ve had significant growth in recent years. What have you based it on?
Y.B.: As of 2014, the establishment began a process of transformation and dynamization, further strengthening its versatility and focusing on being a product of leisure, culture, sports and gastronomy, with the construction of a new SPA, the adaptation of the sports facilities and the renovation of the rooms and their common spaces.
A.C.: The relationship with Altria Corpo started some time ago. What was the reason for contacting us?
Y.B.: We had positive references from Altria Corpo, and due precisely to this process of transformation mentioned above, there were financial challenges to accelerate the change and adaptation of the product to the new reality of demand arising from the previous economic crisis and above all the process of social digitalization and its consequences. Altria is a benchmark when it comes to optimizing the time spent by a company in obtaining and negotiating the necessary resources. The first contact was close, relaxed and direct, making clear the knowledge of the financial sector and its areas of action. Since then, the relationship is fluid, two-way and with many synergies between the two parties.
A.C.: What do you think have been the main benefits of having worked with Altria?
Y.B.: Above all, the assertiveness and ease of management they give to the companies they work with, their network of relationships and their ability to be effective in finding the product that best fits each need or type of business. During the procedure, needs are analyzed, projections are contrasted and scenarios are worked on together until a consensus is reached. Afterwards, the management and follow-up are pleasantly efficient, and the way of adapting, impeccable. I believe that in the end the main benefit is to have gained a “partner”.
A.C.: In the last few months Altria Corpo has obtained a relevant amount of financing for the Torremirona complex, with different lines and instruments. What will you use the financing obtained for?
Y.B.: The financing will be used mainly to continue investments in order to meet the objectives of positioning and quality of the establishment, and to strengthen the position of the product in the territory, as well as to ensure the proper functioning and liquidity in an uncertain time where forecasts are constantly being changed. This is a period of transition, in which the key to financing is to guarantee the continuity of the business by facilitating its economic survival from securing its finance first.
A.C.: As you say, these are very uncertain times in all areas. As far as the financing market is concerned, how do you see it right now?
Y.B.: It is difficult to predict the behaviour of the economic fabric in the medium term, but the degradation of a large part of the service industries, especially those related to transport and tourism, as well as the evident recession that is being experienced in the whole of the territory, makes it difficult for companies to have positive cash flows in the medium term. Precisely for this reason, it is necessary to have precise forecasts, to act responsibly and to have strategic partners who can help to shield the financial needs that guarantee the future of the business fabric.
A.C.: Well, Altria Corpo will continue to be your partner in helping you in this complex environment. Thank you very much, Yassine, for your answers.