The Vitur Summit held annually in Málaga, is the leading event in Spain and one of the leading events in Europe for short-term rentals.
This year’s conference took place on May 8th and 9th and hosted more than 700 industry players from 25 different countries. Among them, leaders of the tourism sector and representatives of multinational companies who discussed the future of tourist accommodation and trends in the sector.
The city of Málaga, along with the rest of Andalucía, has been at the centre of international attention, consolidating its position as a leader in the tourist apartment sector.
What´s the typical profile of guests who choose short-term rentals in Spain?
The founder of Vitur, Carlos Pérez-Lanzac, presented the typical customer profile and in accordance with the data, this is what he said:
** In the first few months of 2024 we´re seeing short term rental guests staying an average of 6.4 nights which is one night more than in the first few months of 2023.
** Typically, they are extremely satisfied with their short-term rental accommodations. In fact, 90% of customers rate their visit 4 or 5 stars.
** With a daily consumption of 73 litres per guest compared to 289 litres per guest in conventional hotel facilities, short-term rental guests contribute to sustainability by consuming significantly less water than those staying in traditional hotels.
According to data provided by Carlos Pérez-Lanzac, in 2023, 9.12 million foreign tourists who chose Spain as their destination stayed in apartments and self-catering accommodation, generating tourism revenues of €19,84 million.
Short-term rental guests bring more money to the local economy too. The average expenditure per tourist was €1,218 for hotel guests, compared to €1,574 for those who chose to stay in apartments and holiday homes instead.
In the first three quarters of 2023, for the region of Andalucía, records show that more than 14 million nights were spent in short-term rental accommodation. This number is up from 10 million for the same period of 2022. This is why Andalucía is ranked in the list of most important regions in the world for short-term rentals.
According to Eurostat, Spain is the second most popular European destination for this type of stay, France still remains in the number one spot.
The Vitur Summit conference took place in the heart of Málaga and had an estimated economic impact of over €1 million.
Public and private sector cooperation
The closing comments of the conference by Carlos Pérez-Lanzac, founder of Vitur, emphasised the need to adapt to market demands in order to maintain Spain’s leadership in tourist accommodation. He also emphasised the acceleration of professionalisation within the short-term rental sector.
In addition, he called on local administrations to create a strong legal framework that will allow Spain to continue to be a pioneer in the tourism sector. Finally, he pointed out the importance of public and private sector cooperation to promote a sustainable and regulated accommodation model.
Miguel Ángel Sotillos, the president of the Spanish Federation of Associations of Tourist Houses and Apartments, “Fevitur”, pointed out that currently more than 60% of short-term rental accommodation in Spain is already in the hands of professional property managers.
He says: “More and more professionals and companies see our industry as a great business opportunity and in many municipalities, we have become the main driver of economic development,”
Carlos Pérez-Lanzac predicts annual growth of up to 11% from 2024 to 2028 in the short-term rental sector in Spain.
Spanish tourism needs short term rentals
According to the General Secretary of Tourism of the Andalusian Government, Yolanda Aguilar, accommodation for touristic use, make up more than 50% of all tourist accommodation in Andalucía.
Yolanda Aguilar pointed out that as well as the average spend per tourist growing twice as fast as new arrivals, the number of off-peak tourists to the region is also on the rise.
With all this in mind Yolanda Aguilar affirmed that Andalusia must manage these rapidly increasing growth rates in order to preserve the market.
“We need to be able to create a sustainable and smart model, using technology to attract quality tourists, which is what we all want”
“It is necessary for the territory to respond to what tourists are asking for: infrastructure, services, security and friendly and intelligent coexistence between locals and tourists. This is where tourist accommodation managers are essential.” Ms. Aguilar pointed out “that it never rains as everyone likes, but we do everything possible to walk together and make a smart path.”
With the anticipation of continued growth in the tourist apartment sector worldwide, the next Vitur Summit has already been scheduled for May 7th and 8th 2025.
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