Board Of Directors
- Silvio Debono – Chairman
- Arthur Gauci – Chief Executive Ofﬁcer
- Vincent Degiorgio – Director
- Victoria Debono – Director
- Alan Debono – Director
- Robert Debono – Director
- David Debono – Director
- Jesmond Vella – Director
For various reasons, from technological to social, from global to political, change is the only thing that is permanent in the business world we live in today. This is no longer a cliché or a philosophical principle. It has become the way of life for business, from the decisions taken in the boardroom, all the way through the entire management structure.
It is not just that the pace of change has quickened at an unprecedented rate. More acutely, its sheer depth is creating a world which was unimaginable even just a few years ago.
For today’s success to be repeated tomorrow, it is no longer enough to do what we used to do better, faster and more efficiently. One has to rethink the basics and question the obvious every single day. It is not accidental that almost everywhere you turn, you hear whispers of ‘disruption’ in the wind.
In this context, our Group’s expansion has been a carefully prepared mix of planning and risk taking, flitting our eyes between the past, the present and the future. We invest through prudent financial structures and management as well as a conservative plough back policy, supporting new investment and growth with our profits. We select our growth areas judiciously and never invest capital in projects which do not pay for themselves within a reasonably short time span.
Furthermore, our new projects are expected to start yielding positive results within 18-24 months of inception. The results, published in our report give ample evidence that we are steering the ship in the right direction.
The Group’s decision to invest €80m in Malta at the height of the 2009 and 2010 global financial crisis was bold, courageous and risky. Yet it proved to be a wise one and is bearing the desired fruits.
In 2015, we invested another €32m in the db San Antonio Hotel + Spa to make it the Maltese hotel with the 2nd largest number of rooms. We have also acquired a private health service firm, a move which makes us the largest in the sector. This year we have signed a contract to build and operate the City Centre project, which includes an upmarket Hard Rock Hotel. It is a project which will see us invest another €300m.
The facts show that the market is rewarding us for having full faith in the product, for our ability to deliver it with excellence and for our faith in this country.
As we look to the future, we are steadfast in the belief that change is the main driving force. Yet we are equally steadfast in our belief that, as we have done so far, we shall ride the waves with pride in a job well done.
The Group’s commitment to take its quality services a notch higher is widely acknowledged by industry leaders and evidenced by the various international awards won by the Group. Last year’s results continue to show a solid positive trajectory:
On a sectorial level, the Group’s mainstream operations registered healthy results as follows:
The next big target is the db City Centre project on a prime stretch of land enveloped in Malta’s mecca of 5-star properties and our own ‘golden mile’ in St. George’s Bay, St. Julians. The site, is earmarked for a mixed-use development which will position it at the top end in the luxury living and accommodation on the island – a unique cosmopolitan living experience, featuring high end outlets, services and facilities.
The Group’s performance over the last years has been outstanding. However, we will not rest on our laurels. Our underlying corporate mission statement continues to be captured by one word – Excellence. It is the key to the Group’s continued success. We look back on the past with a well-deserved sense of passion and satisfaction. Moving into the future brings with it exciting new challenges and great opportunities. And we are ready for it.
One word which captures the essence of success in our business.
One word which always reminds us of how we got here.
One word which has guided us for three decades.
One word which inspires all our new ventures.
One word which distinguishes us from others.
One word which explains our staying power.
One word which deﬁnes who we are.
One word which is our future.
“We are what we repeatedly do.
Excellence, then, is not an act,
but a habit.”
The Group signs a contract to build the db City Centre project in St George’s Bay, Paceville with an investment of €300m.
The Group expands its healthcare service offering to include domiciliary care for the elderly.
Completion of a block of luxury apartments in Mellieha Bay.
The Group acquires land to develop a 300-bed home for the elderly in Santa Lucija, and a historical building in Mtarfa, earmarked to be converted into a 150-bed residence for the elderly dementia patients. The Group also takes over the former MMDNA operation, significantly increasing its service offering.
The Group fully refurbishes the Hard Rock Bar at the Malta International Airport.
With an investment of €33m, the db San Antonio Hotel + Spa is refurbished and turned into a 500-room all-inclusive hotel. The Group launches the db brand, its chain of hotels and resorts.
The Group acquires the two largest healthcare companies in Malta and sets up Healthmark Care Services Limited to supply healthcare workers to public hospitals and clinics and provide home care and support services.
Complete refurbishment of Tunny Net Complex.
A land reclamation proposal is submitted to the Maltese Government.
The Group acquires 100% ownership of the db San Antonio Hotel + Spa.
Kika Construction Limited completes the extension of the db Seabank Resort + Spa in a record 8 month timeframe.
With an investment of over €40m, the db Seabank Resort + Spa is converted into a 540-room all-inclusive hotel operation.
A block of upmarket apartments in St. Paul’s Bay is completed.
Through its partnership in Malta Healthcare Caterers Limited, the Group enters the contract catering market supplying meals to Malta’s public sector hospitals.
As part of its partnership in Sky Gourmet Malta Limited, the Group wins the in-flight catering contract of Air Malta, the country’s national airline.
The third Hard Rock Café outlet is opened at the Valletta Waterfront.
Seabank Resort + Spa undergoes a major refurbishment programme.
Following extensive renovations and an investment of €28 million, the 300-room San Antonio Hotel + Spa inaugurated.
The first airport Hard Rock Bar in the world is opened at the Malta International Airport.
Seabank Resort + Spa is expanded further and the number of rooms is increased to 251.
The Group acquires 50% of the db San Antonio Hotel + Spa.
The Group obtains the prestigious Hard Rock Café franchise and opens the first Hard Rock Café outlet in St. Julian’s.
25 new hotel rooms are added to the Porto Azzurro Complex.
Major structural modifications and refurbishment are carried out at the Seabank Hotel with the number of rooms is doubled to reach 160.
The Tunny Net Complex is demolished and reconstructed as a complex including a restaurant, pub, club, beach lido and water sports facilities.
Group acquires a third of the Porto Azzurro Complex, an 80-room aparthotel which was refurbished and opened a year later.
The Group acquires the Tunny Net Complex on the water’s edge, some 200 metres away from the db Seabank Resort + Spa.
The Mellieha guest house is converted into an 80-room hotel and inaugurated as the Seabank Hotel.
Kika Construction Limited is set up to oversee the construction of the Seabank Hotel.
Silvio Debono buys a guest house in Mellieha, expanding and embellishing it in subsequent years.