Geographic concentration in Marbella
Most operating and development value is tied to one destination and one core asset.
- Scope
- Boho Club and the Golden Mile property
- Materiality
- high
Boho Group
Boho Group AB (publ) is a Swedish hospitality and real estate company centered on Boho Club in Marbella, Spain. Through its Spanish subsidiaries, the group owns the land, develops the property, and operates a five-star boutique hotel and members' club on the Costa del Sol.
| % | |
|---|---|
| Hotel operations | 55% Room accommodation and guest services at Boho Club in Marbella. |
| Food & beverage | 20% Restaurant, bar, and dining services tied to the hotel experience. |
| Members' club and lifestyle services | 10% Club access and curated hospitality experiences for recurring guests and members. |
| Property development | 10% Development of the group's land and building rights for future hospitality use. |
| Real estate ownership and management | 5% Holding and managing the underlying property assets and related value creation. |
Boho Group serves leisure travelers, high-end visitors, and members seeking a luxury lifestyle destination in Marbella...
- Luxury leisure travelersprimary
Guests booking rooms and experiences at Boho Club for premium stays in Marbella.
- Members and repeat visitorsprimary
Local and international customers using the members' club and returning for the brand experience.
- Restaurant and lifestyle guestssecondary
Visitors drawn by dining, wellness, and social experiences rather than overnight stays.
- Real estate and hospitality partnerssecondary
Potential collaborators and counterparties interested in development, land value, or operating partnerships.
The business is concentrated in Marbella’s Golden Mile on Spain’s Costa del Sol, where Boho Club is owned and operated...
- •Marbella, Spain is the core operating location
- •Costa del Sol demand drives hotel occupancy and restaurant traffic
- •Spanish subsidiaries hold and operate the main assets
- •Sweden is the listing and reporting base
- •International guest mix creates exposure to travel trends and geopolitics
Boho Group's strategy is to build Boho Club into a destination brand that combines hospitality operations with...
01
Expand the Marbella asset basemedium-term
More rooms and facilities can increase guest capacity and monetization of the site.
02
Monetize land and development rightsmedium-term
The property company creates value by converting land reserves into higher-value hospitality assets.
03
Strengthen the Boho brandlong-term
A differentiated luxury brand supports pricing power, repeat visitation, and partner interest.
04
Maintain integrated control of the guest experiencelong-term
Owning, developing, and operating the asset helps preserve quality and consistency.
Boho Group is exposed to destination-specific tourism risk, including weather, seasonality, and shifts in international...
Tourism demand volatility
Hotel and restaurant demand depends on travel flows, weather, and discretionary spending.
- Scope
- Occupancy, restaurant traffic, and guest spend
- Materiality
- high
Planning and permitting risk
Future value creation depends on approvals for expansion and building rights.
- Scope
- Development timetable and asset valuation
- Materiality
- high
Financing and interest rate risk
The group uses property-backed borrowing and project financing to support development.
- Scope
- Interest expense and covenant headroom
- Materiality
- high
Capitalized financing costs
Reported leverage and finance costs
Property asset valuation and impairment
Balance sheet value and potential impairment charges
Lease liabilities
Debt presentation and EBITDA-to-cash conversion
Foreign currency translation
Equity and comparability across periods
: 11/08/2026