which holds the occupancy permit. The 80-room hotel
is designed for the low budget hotel segment.
Construction work on the future hotel at Lisbon
airport, Tryp Lisboa Aeroporto, progressed at a good
pace throughout 2012, remaining on course for the
projected opening date of July 2013. The hotel will
have 170 rooms designed for the 4-star hotel segment
and will include a spa, health club and restaurant.
The entire 17.5 million euro investment is the respon-
sibility of Hotti Aeroporto Hotel, S.A., which holds the
occupancy permit. This hotel will benefit from its
excellent location near the passenger terminal, the
new airport metro station and the main highways, all
of which give it a tremendous potential for drawing
guests.
The promoter of the hotel at Faro airport, Aerotel,
S.A., succeeded in getting Faro City Hall’s approval
to change its classification to a 4-star hotel. At the end
of the year, soil removal and land preparation work had
already been completed, with preparatory work in
progress for laying down the building’s foundation.
The 130-room Faro airport hotel represents an invest-
ment of approximately 6 million euros, the full amount
being the responsibility of the holder of the occupancy
permit.
Real estate asset management in 2012 struggled
with the continuing decrease in demand for spaces
and the increase in pressure on the owners by the
tenants to renegotiate rents or cut back on the area
occupied. Initiatives were taken by the Group to
intensify efforts to maintain its portfolio of assets.
Initiatives included:
• Greater flexibility in negotiating with its customers,
in order to retain them;
• More investments were made in advertising and
communications;
• Contract jobs were carried out to improve the
installations and equipment in some of the build-
ings.
The Group was able to buck the market trend, as the
real estate business registered year-on-year growth of
0.8% (for the Group) and 2.7% (ANA, S.A.).
Continuing its efforts to streamline the management
of building upkeep and maintenance, in 2012 the
ANNUAL REPORT ‘12
BUSINESS REVIEW
65
ANA, S.A.
Real estate
ANA GROUP
2012
2011
2010 Var. % 12-11
2012
2011
2010 Var. % 12-11
20,235
19,705
18,425
2.7%
Revenue (thousand euros)
18,482
18,334
17,659
0.8%
