Automatic

🏖 During the "SolyTUR" event in Madrid, tourism investors highlighted a lack of coordination between administrations managing beach and sun destinations. They urged the government to establish a unified forum to manage the challenges of repositioning these destinations. Alejandro Hernández-Puértolas, CEO of HIP, emphasized the need for more inter-administration coordination and legal security to avoid decade-long transformation processes. Investors are concerned about the lack of a clear strategy and uniformity among administrations. Víctor Martí, CEO of Atom Hoteles Socimi GMA, called for a forum representing different administrations for successful transformation. The mayor of Salou mentioned working with the economic and investment sectors for years, with plans always in agreement with the private sector. He also discussed the stalled Hard Rock megaproject, awaiting approval from the Generalitat de Catalunya, which promises a €175 million investment and job creation in its first phase. The mayor of Torremolinos, Margarita del Cid, reported obtaining over €20 million in funds for repositioning the destination, focusing on sustainability, urban regeneration, and social aspects.

💰 Millenium Hospitality Real Estate (MHRE) closed 2024 with a record revenue of €26.4 million, a 19% increase, and an Ebitda of €6.75 million, which could have been €10.6 million excluding restructuring costs and former CEO's departure expenses. The luxury hotel sector company reported a net profit of €11.2 million, compared to a €2.9 million loss in the previous year, allowing it to distribute its first-ever dividend. MHRE will propose a dividend payment of €0.116 gross per share at the next General Shareholders' Meeting, representing a 4.87% yield based on the March 20 closing. The company invested €59.3 million in asset repositioning in 2024, bringing its portfolio value to €684.3 million, up 3.6% from 2023, despite selling assets in El Palmar, Córdoba, and Alicante. Eight of MHRE's ten assets are operational, with two Madrid hotels, Nobu and Nômade, set to open by the second half of 2026.

📈 In February 2025, Spanish hotel stays slightly dropped by 0.9% to 18.4 million, with resident stays decreasing by 3.1% while non-resident stays grew by 0.3%. Overall, January-February stays increased by 0.7% to 35.3 million, non-residents up by 2.2%, residents down by 1.9%. Andalusia, Madrid, and Catalonia were top for residents, while non-residents favored Canaries, Catalonia, and Andalusia. UK and Germany led foreign stays at 23.4% and 15.5%, respectively. Occupancy reached 53.9%, with Canaries at 79.5%. Hotel revenue per available room (RevPAR) rose 6% to €71.7, and the average daily rate (ADR) increased by 4.8% to €112.5.

🏩 Tourism executives face challenges in an ever-changing industry, struggling with talent acquisition and retention, prompting major hotel chains to focus on internal growth. Leadership profiles are evolving alongside distribution, customer base, and companies. Work-life balance, technology, and corporate purpose are pivotal in this shift. These issues were discussed on Hosteltur TV this week.