Automatic

💸 Business travel spending is projected to increase by €360.4 billion in 2024, a 10.4% rise from 2023. Europe will account for 26.4% of the global business travel expenditure, reaching €1.36 trillion, despite still being slightly below 2019 levels. Countries like Spain, Greece, Netherlands, Austria, and Switzerland have surpassed pre-pandemic spending levels. The global business travel spend is expected to hit $1.48 trillion by the end of 2024, exceeding the 2019 record of $1.43 trillion. In a GBTA survey, 22% of European business travelers prioritize reducing carbon emissions, higher than the 16% global average.

🏢 Monthisa sold "Montera 9," a 2,200 sqm mixed-use building, to a family office, with advisory by Savills. The asset features three commercial floors and four tourist apartment floors, with Grupo Numa managing 19 tourist units. Stamp opened a 1,100 sqm store, marking its expansion from airports to street locations. Madrid's real estate market retains strong appeal due to tourism growth, with high liquidity for well-located tourist assets.

🏖 Spanish hotels are focusing on sustainability, as confirmed by the CEHAT president Jorge Marichal. The "Triple Sustainability Indicators of Spanish Hotels 2024" report shows improved resource efficiency, job creation, and increased profitability. Greenhouse gas emissions decreased by 6.8% in 2022, water consumption dropped by 0.2% between 2020 and 2022, and land use by the sector grew only 0.5%. Employment reached 485,723 in August 2024, marking 2.39% of national employment. The hotel industry has invested heavily post-pandemic, with 4 and 5-star accommodations exceeding 55% in 2022. Average occupancy stood at 58.7%, and RevPAR increased by 15.6% in 2023. Debt is declining, and non-performing loan rates dropped by over one percentage point in 2023.

🏢 Barcelona hosts IBTM fair focused on MICE & Business Travel, starting with high visitor turnout on Tuesday. IBTM Trends Report 2025 forecasts global economic growth of just 2.7% amidst geopolitical, economic uncertainties, and climate change challenges. Despite rising hotel and travel costs post-pandemic, Abu Dhabi and Italy's tourism leaders remain optimistic about adapting to new challenges and maintaining competitive MICE services. The fair began on November 19, 2024, in Barcelona.

🍴 Costa Cruceros has developed a strategy to reduce food waste in line with the 2030 Agenda's goal to cut it by 50%. They implemented an informative campaign and reduced plate sizes. Kitchens now weigh waste and use fewer, locally-sourced ingredients. Excess food is refrigerated and donated to organizations like the Banco de Alimentos de Barcelona, which distributed 18 million kilos of food in 2023. Donations also occur in eight Mediterranean ports, including expanded efforts to Valencia and Palma.