Tag: four star

INE: Foreigners Account For 82% Of Overnight Stays In 5-Star Hotels

29 August 2017 – El Economista

Foreigners who visited Spain in July registered more than 1.9 million overnight stays in five-star hotels, representing 82% of the total number of nights sold in the most luxurious category of hotel accommodation.

According to data extracted by Servimedia from the Tourist Hotel Environment Survey from the National Institute of Statistics (INE), five-star hotels recorded the highest percentage of clients from overseas, exceeding the average for hotel accommodation as a whole, where foreign clients accounted for 67.2% of all rooms, by 15 percentage points.

In fact, 6.5% of the overnight stays by foreigners in Spanish hotels were registered in five-star hotels, a percentage that more than doubles the 2.8% recorded by domestic clients in high-end establishments.

Meanwhile, four-star hotels registered more activity in Spain by both overseas and domestic tourists. The presence of foreign clients amounted to 69.3%, with 14.6 million overnight stays, compared to 6.4 million overnight stays by domestic visitors.

This figure of overnight stays in four-star hotels accounted for 49.7% of all stays registered by overseas tourists in the country, compared to a percentage of 45.2% in the case of domestic tourists.

If we add together the overnight stays registered in the two highest categories, we see that 56.3% of the foreigners that visited Spain in July slept in four and five-star hotels, whilst in the case of Spaniards, that percentage amounted to 48.1%.

After four star hotels, the accommodation most used by foreigners and by local tourists alike were three-star hotels, which hosted 33.2% of overseas tourists and 28.8% of domestic visitors.

Specifically, international tourists registered 9.7 million overnight stays in three-star hotels in July, accounting for 70.2% of the total in that category, compared to 4.1 million domestic overnight stays.

In the remaining categories, 1.4 million overnight stays or 4.7% of the total number of stays by foreigners were in two-star hotels; 0.4 million or 1.5% were in 1-star hotels; 0.5 million or 1.9% were in three- and two-star hostels; and 0.6 million or 2.1% in one-star hostels.

Of these four categories, domestic clients accounted for a higher percentage of total stays than foreigners in the lowest three, whilst overseas tourists accounted for 52.2% of overnight stays in two-star hotels. Specifically, domestic clients accounted for 54.3% of stays in one-star hotels, 58% in three- and two-star hostels and 50.7% in one-star hostels.

Original story: El Economista

Translation: Carmel Drake

HI Partners Buys 2 Princess de Estepona Hotels For Matutes

8 July 2016 – Preferente.com

The fund HI Partners is on the verge of completing the purchase of two hotels from the Princess de Estepona chain, which will be operated by Matutes under the Hard Rock brand. The agreement is due to be signed on 15 July.

HI Partners and the Cabrera family, owner of the Princess hotel chain, have been negotiating this deal for more than six months. Matutes was the group chosen by the funds to operate the two properties from the get-go.

Initially, the Ibiza-based group analysed the conversion of the complex into a Ushuaïa model hotel, but in the end it is going to opt for the Hard Rock brand, just like it is doing in other Spanish destinations outside of the island of Ibiza.

The representatives of HI Partners held meetings with members of the Cabrera and Matutes families in Ibiza, when they visited the island in the middle of May. There, they saw the operations of Ushuaïa at first hand.

The fund Starwood holds a stake in HI Partners, but the fund’s main shareholder is Banco de Sabadell, which has a strong presence in the hotel sector. The fund previously tried to close a deal with the Amengual family, but that did not go ahead in the end.

The hotels in question are the Andalucía Princess, a four-star 383-room property; and the Costa del Sol Princess, with 118 rooms (including 15 family rooms) and 12 suites.

Original story: Preferente.com

Translation: Carmel Drake

Nyesa Puts Hotel Tryp Macarena Up For Sale For c. €50M

7 April 2016 – Expansión

The hotel real estate market in Sevilla is on a roll. In addition to several new projects, such as Hotusa’s plans for CaixaBank’s Torre Sevilla skyscraper and the hotel that will be opened in the former headquarters of Banco de Andalucía, promoted by Drago Capital, other properties are also now hanging up the ‘For Sale’ sign. According to local sources, another hotel that may soon change hands is the Tryp Macarena, one of the largest in the Sevillan capital.

The real estate company Nyesa has launched the sale of this property, located next to the Parliament of Andalucía, in the popular neighbourhood of Macarena. The starting price ranges between €40 million and €50 million, according to sources in the sector. The property has a four-star rating and 331 rooms.

Meliá is the chain that operates the hotel and the firm that sold it to the current owners in 2005 for €42 million. For the Bartibás family, which used to control the Horcona group, it represented its fourth hotel in Spain and the 25-year lease contract signed with the multi-national firm chaired by Gabriel Escarrer generated annual revenues of €2.2 million, according to Nyesa’s accounts.

According to sources at Meliá yesterday, “in most cases, when there is a transfer of ownership, the group continues as the manager, if that fits with the overall strategy”.

Nyesa Valores Corporación was created in 2008 from the integration of the real estate companies Nyesa and Inbesòs. Its huge debt, which exceeded €650 million at one point, forced it to file for bankruptcy in 2012, but it reached an agreement with its shareholders in 2014. Nevertheless, its shares are still suspended from trading and in 2015, its revenues amounted to just €2.6 million, compared with €186 million in 2008. After capitalising its debt, its shareholders include several banks, such as Popular (13.2%).

Original story: Expansión (by Lidia Velasco)

Translation: Carmel Drake

Tinsa Heralds A New Era For The Hotel Sector

24 February 2015 – Expansión

More specialisation will be required to combat the maturity of the market.

According to Tinsa, the number of hotels has grown by 13.7% over the last seven years. By the end of 2014, there were 7,840 establishments and 1.26 million rooms in Spain.

In its Hotel Market 2014 study, prepared on the basis of the assessment of 2,700 establishments – 35% of the total market in Spain – the appraisal company states that the construction of a five star hotel requires an average investment of €262,000 per room, compared with €135,000 per room for a four star hotel, even though the number of rooms is typically similar in both cases – around 140. For three star accommodation, the investment required is around €89,000 per room. The report shows that profitability increases in line with the category. A five star hotel generates €29,600 per room per year, compared with €14,800 for a four star establishment. Revenue per available room (RevPar) is €117 for five star hotels and €60 for four star properties.

Tinsa indicates that, over the coming years, differentiation will become increasingly important. The hotel industry will undergo a similar transformation to that experienced by the airlines with the arrival of low cost competitors; some chains are already beginning to distinguish themselves with services such as mobile check-in.

Original story: Expansión (by Y. Blanco)

Translation: Carmel Drake