Automatic

🏩 Mujeres en Hospitality hosted a panel featuring José Ángel Preciados of Ilunion Hotels, Raúl González of Barceló Hotel Group, Gonzalo García-Lago of Azora, and Cristina Fernández of Covivio to discuss “The new era of tourism in Spain: revolutionizing the model for a bright future”. They analyzed challenges, including the paradox of rising prices, mentioned by Fernández, despite increasing rates not causing a recession in bookings. González noted RevPAR growth in the US at 2.5%-3%, and prices rising less. García-Lago revealed a 30%-35% price increase from 2019-2024, with further growth expected due to demand outpacing supply growth (1% vs. 3%-5%). The panel highlighted the potential growth in niches like Asian and US markets rediscovering Europe, and mentioned sustainability as a growing concern, though not the top priority for most customers. Strategies for the future include serious ESG consideration, more marketing, dignifying the sector, and unity among stakeholders.

💰 Minor Hotels Europe & Americas reported exceptional financial results for the first nine months of 2024, with revenues of €1.789 billion, a 10.9% increase from the same period in 2023. The Average Daily Rate (ADR) rose by 6.2% year-on-year to €146, with Spain and Central Europe leading the portfolio's performance. Revenue per available room (RevPAR) grew by 8% to €101. The recurring EBITDA increased by 11.3% to €498 million, and the net recurrent profit surged by 52% to €141 million. In the third quarter alone, revenue was up by 10% to €644 million, with occupancy surpassing pre-pandemic levels at 72.3% in Southern Europe. Net financial debt stood at €313 million in September, with liquidity remaining solid at €461 million. Regional gains included a 75% occupancy rate in Spain and an 8% revenue increase in Central Europe, partly thanks to the UEFA Euro 2024.