Will the expectations be met?
The Canary Islands are expecting a moderately positive second quarter for hotel occupancy, according to the latest ISTAC forecasts. Occupancy rates are projected to be 75%, 70%, and 69% for April, May, and June, respectively, for hotels, and 67%, 60%, and 60% for tourist apartments.
However, expectations among hoteliers and apartment managers are mixed. The confidence index for the hotel sector increases slightly in the second quarter, while that for apartments decreases.
Despite the mixed outlook, most hotel managers (48%) and apartment managers (33%) expect a favorable second quarter. However, a significant share of apartment managers (21%) also anticipate an unfavorable outcome.
As for factors that could influence the business, labor shortages are the top concern for both hoteliers (69%) and apartment managers (50%).
Overall, expectations for Q2 are moderately positive, with a slight increase in hotel sector confidence. However, labor shortages and mixed perspectives among apartment managers could negatively impact results.
Here are some additional points that can be highlighted in the news:
- The trend of key business climate indicators, such as employment, investment, prices, and turnover, is expected to remain stable in both sectors during the second quarter.
- Most hotel managers (46%) and apartment managers (61%) expect the occupancy rate to remain stable compared to 2023.
- However, a significant share of hotel managers (35%) believe occupancy will increase, while only 18% of apartment managers have the same expectation.
For more information, please consult ISTAC