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Industry and government officials before the presentation. SUR
Costa del Sol to play host to Vitur Summit - Europe's biggest holiday rental sector event
Tourism

Costa del Sol to play host to Vitur Summit - Europe's biggest holiday rental sector event

Last year, more than 9 million foreign tourists who visited Spain stayed in holiday rental apartments and homes, generating an expenditure of almost 20 billion euros

Pilar Martínez

Malaga

Wednesday, 24 April 2024, 13:37

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Malaga has been chosen to host the largest event of the holiday rental sector in Europe on 8 and 9 May.

Andalusian Tourist Housing Association AVVA-Pro president Carlos Pérez Lanzac announced the event on Tuesday 23 April and said: "Vitur Summit will become the epicentre of the tourist property and accommodation sector, and a meeting point for investors, operators, owners and service companies in the sector together with public institutions and employers' associations".

He pointed out that more than 700 company leaders, administrations and European institutions will take part in the event and discuss business outcomes, innovation and future opportunities in the sector. "Speakers and high-level personnel will participate, with innovative content, multiple business and networking opportunities for companies from all over the world who will present the current situation and analyse trends and developments in tourist accommodation," Lanzac said.

Lanzac, also the founder of Vitur Summit, said the sector has experienced rapid growth, both inside and outside Spain, and pointed out Europe maintains a leading position in tourist accommodation worldwide, with Spain being the top European destination. "The global market for tourist homes and apartments will reach 315 billion dollars in 2031, with a compound annual growth rate of 12.4%," he said.

"In Spain, 9.12 million foreign tourists who visited us last year stayed in apartment and tourist homes, generating an expenditure of 19.844 billion euros in the country. The average expenditure per tourist was 1,218 euros in hotel accommodation, compared to 1,574 euros for visitors staying in apartments and holiday homes," he added.

The presentation was attended by Junta's delegate for tourism in Malaga Gemma del Corral; the CEO of Turismo Costa del Sol Esperanza González; Malaga city council's tourism councillor Jacobo Florido; and vice-president of the Association of Professionals of Tourist Homes and Apartments of Andalucía (AVVAPro) Juan Cubo.

Demand for villas, luxury accommodation and mid-range stays

Lanzac said demand for villas, luxury accommodation and mid-range stays had contributed to growth in the sector. "It is a sector on the rise that has increased the investment appetite of large companies from other industries," he added. Meanwhile, Cubo said: "We are at a time of great progress in terms of regulations throughout Spain and many European countries, with a much more consolidated sector and with positive prospects in terms of investment and demand".

Del Corral said the Junta is working on real co-governance with the private sector "because we need to go hand in hand", and pointed out the importance of consensus among all the agents involved in the sector, with the aim of improving service quality, professionalism, improving coexistence and providing tools to town councils to manage, control and regulate the sector.

CEO of Turismo Costa del Sol Esperanza González said 75% of the province's offer are tourist homes and flats "which contributes to our destination being an example of alternative services and quality for the tourists who visit us". Malaga city councillor for tourism Jacobo Florido said there is work being carried out in the sector in the city, including leading initiatives such as the good practice agreement with property managers and the high number of certificates awarded by the Integrated Quality System in Destination (Sicted).

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