Tourism in Spain indicates property collapse may only be temporary

March 10, 2011 – 11:54 am

Tenerife and Spanish property slump may be temporary as tourism on the rise once more

Despite its economic woes, tourists are still flocking in their millions to Spain and Tenerife, indicating the current collapse in property values will more than likely only be temporary – last year the country recorded the highest number of hotel stays out of any country in Europe, according to EU statistics body Eurostat. It’s no surprise then that international hotel group Marriott has chosen Spain as the destination to launch its new Autograph brand onto the European market.

Launched successfully in the United States last year, Autograph represents the group’s entrance into the upscale boutique hotel market, following the success of the InterContinental Group’s similar boutique chain, Hotel Indigo. The four new hotels planned in the Spanish cities of Madrid, Granada and the ski resort of Baqueira in the Pyrenees will be constructed from refurbished heritage properties already owned by European hotel group AC Hotels.

Both the AC Santo Mauro and AC Palacio de Retiro hotels in Madrid have been converted from historic houses to 50-room boutique hotels, while the Granada property, AC Palacio de Santa Paula, was a former convent. If successful, Marriott will expand the quirky heritage-turned-modern hotel brand into Italy and Portugal over the next three years.

“We are thrilled to launch the Autograph Collection in Europe with such a dynamic and distinguished group of hotels”, said managing director of Marriott International Europe, Amy McPherson. “Each of these properties offers a truly unique guest experience and fits perfectly within the positioning of the Autograph Collection.”

As the first major hotel launch in Spain since the collapse of the property market plunged its economy into a national debt crisis, the presence of the new Autograph brand will boost both the country’s economy and its public image. With major hospitality brands like Marriott showing confidence in Spain again, the recovery of the property industry can’t be too far behind both on the mainland and in the Canary Islands.

By Angela | Posted in Economy, General, Health, Holiday, Inspirational, Miscellaneous Articles, Property, Tenerife | Tagged , , , , , , , , , , , , , , , , | Comments (0)

House sales fall in Spain,though the islands fair better.

January 20, 2011 – 9:44 am

Spanish house prices fall in November

Spanish house sales fell in November for the third straight month, official data showed on Wednesday, reversing eight months of gains as the country’s ailing property sector struggles to recover.

House sales dropped 6.2 percent in November from a year earlier to 32,746 units, after falling 17.7 percent in October, though rose 20.4 percent month-on-month, the National Statistics Institute said.

Spain’s housing crisis has turned a decade-long economic boom into a prolonged bust, forcing the country’s network of savings banks into a costly consolidation process and leaving millions of construction workers without jobs.

Housing prices, which have not fallen as sharply in Spain as in the United States or Ireland, are expected to continue to fall gradually for several more years, aggravating economic stagnation. However, the islands such as Tenerife have largely faired better during the current difficulties.

By Angela | Posted in Economy, General, Health, Holiday, Inspirational, Miscellaneous Articles, Property, Tenerife, Things to Do | Tagged , , , , , , , , , , , | Comments (0)

Adventure tourism on the increase

August 19, 2010 – 2:42 pm
adventure tourism in Tenerife, reaches from the beaches to Mount Teide

Adventure tourism in Tenerife, reaches from the beaches to Mount Teide

Adventure tourism, long considered  for the small group of dare devils, is becoming more mainstream, with tourists more likely to rappel down mountains, cycle or volunteer while on vacation.

These adventurers are young, affluent and spent $US89 billion ($US97 billion) last year, excluding the cost of airfare and gear, according to a study by researchers at George Washington University’s School of Business.

“You have a lot of people who want to roll up their sleeves, get involved in a culture and have a more authentic experience than just laying in the sun,” said Dr. Kristin Lamoureux, an author of the study, which was conducted with the Adventure Travel Trade Association, an industry group.

The researchers questioned 850 travellers from North and South America and Europe. Seventy percent of international travel originates in those regions. Countries with the most travellers are the United States, Argentina, Brazil, the United Kingdom, Germany and Spain.

Although overall tourism figures were down by 6 per cent in 2009, according to the United Nations World Tourism Organization (UNWTO), the study showed that when people travel, they are more likely to engage in physical activities, providing a new revenue base for tour operators.

Based on their findings and data from the UNWTO, the researchers estimate that 150 million adventure trips will be taken next year.

“There is a perception that the adventure tourism market is a very limited group of people who are seeking high-risk activity, but the reality is that it’s a much broader market than we thought … and they are willing to spend,” Lamoureux said.

The typical adventure traveller was 36 years old, spent between $US450 ($A493) and $US800 per vacation, excluding airfare, and owned a passport, according to the researchers.

The biggest source of news for adventure tourists was their local newspaper and information found through Google and Facebook.

Most adventure travellers did not own cutting edge technology like iPhones, a crucial point, Lamoureux said, in helping tour operators maximize their advertising dollars, especially in times of recession.

By Angela | Posted in Economy, General, Health, Holiday, Inspirational, Miscellaneous Articles, Property, Tenerife, Things to Do, Uncategorized, Weather | Tagged , , , , , , , , , , , , , , , , | Comments (0)

Investors sticking to proven locations like Tenerife following global market downturn.

September 20, 2009 – 4:10 pm

The index which tracks the level of interest in certain properties and countries from visitors to the site has seen changes.

British buyers stick with traditional locations like Tenerife after the credit crunch.

British buyers stick with traditional locations like Tenerife after the credit crunch.

The United States was knocked off the top spot in August’s Investment Property watch chart

France, a favourite with British investors and holidaymakers,claimed victory in August.

Industry experts are busy predicting that traditional locations will emerge victorious from the global market downturn and that is good news for Tenerife. Mortgage specialist, Conti, found that British investors are sticking to ‘proven’ locations that offer less risk. Spain is a  traditional hotspot. The credit crunch has been particularly hard on Spain, with hoards of unsold apartments lying unfinished as developers fell foul of the credit crunch. Now, huge discounts have led to the bargain hunters circling again, pushing demand for Spanish property back up.

For France and Spain, enquiries have increased considerably with the countries accounting for 53 per cent of all 2009 enquiries so far, compared with 29 per cent in the same period last year. British buyers are sticking to the more traditional overseas locations, especially those with history of providing good rental returns. The smart investor is no longer simply looking to where the best bargains for a swift return can be found, but to where security lies for a longer term investment and Tenerife certainly meets these criteria. perhaps it is time to visit your Tenerife estate agent and see what bargains are available again.

By Angela | Posted in Economy, General, Holiday, Inspirational, Miscellaneous Articles, Property, Tenerife, Things to Do, Uncategorized | Tagged , , , , , , , , , , , , , , , , , , , | Comments (0)