Spanish momentary leases boost has vacationer sector clamouring for principles

Spanish momentary leases boost has vacationer sector clamouring for principles - Financial Markets Worldwide

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Economy 29 minutes within the past (Nov 22, 2022 12: 17PM ET)

Spanish short-term rentals boom has tourist sector clamouring for rules
© Reuters. FILE PHOTO: Vacationers hold pictures of Puerta del Sol square as storm Celia blew sand from the Sahara desolate tract over Madrid, Spain, March 15, 2022. REUTERS/Susana Vera

MADRID (Reuters) – Brief-time length lodging in Spain’s 20 absolute top cities is impulsively catching up with the quantity of rooms managed by hotels, a gaze launched on Tuesday learned, prompting hoteliers to name for higher laws of their upstart competitors.

Spanish shuttle industry affiliation Exceltur acknowledged that about 300,000 homes are equipped for momentary apartment within the country’s 20 largest cities, with some 389,779 rooms managed by hotels.

Exceltur, which groups collectively principal Spanish hotel chains, shuttle brokers, tour operators and airways, is lobbying for a new laws to govern momentary apartment platforms such as such as Airbnb, describing the narrate as “out of management”.

Airbnb acknowledged this month it had recorded a “disproportionate” 31% rise in single-room listings on its platform within the third quarter, attributing it to more dwelling dwelling owners searching for extra earnings amid a price-of-residing disaster.

Renting to tourists is twice as profitable as offering long-time length leases to residents, the Exceltur gaze confirmed. In Spain, momentary leases are moreover more affordable, on moderate, than hotels.

In a minimal of six principal cities, the quantity of momentary leases, most of them positioned in metropolis centres, equipped in its assign aside to hotels grew by 34.5% within the 12 months to September, the gaze commissioned by Exceltur learned.


At least six out of 10 homes in downtown Seville come in to tourists by blueprint of momentary apartment platforms, the gaze acknowledged, while within the coronary heart of Madrid about a third of homes come the historic Puerta del Sol are rented out for brief stays.

Meanwhile, the quantity of hotels rooms available in locations admire Madrid, Barcelona, Malaga or Seville has grown at a tempo of ethical 2% per yr since 2010, the gaze acknowledged.

“We all rating to play on equal terms,” acknowledged Gabriel Escarrer, who heads Exceltur and serves as Chief Govt of Spain’s absolute top hotel neighborhood, Melia. “These properties rating to meet obvious requirements in talk in confidence to be marketed.”

These consist of forcing platforms to check that person hosts are well registered as vacationer lodging suppliers, with reliable permission to characteristic.

The European Commission has already proposed draft laws that will perhaps perhaps originate online apartment platforms present data such because the quantity of customers utilizing their services and products and the absolute top blueprint many nights they retain to nationwide authorities, other folks aware of the matter told Reuters.

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