Mallorca, Spain--(Newsfile Corp. - March 22, 2024) - After a boom in 2023, the experts in vacation property management at Ideal Property Mallorca are confident that this year will outweigh last year's 69.1% growth.
Ideal Property Mallorca
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International tourists and residents of Spain are increasingly choosing vacation apartments in Mallorca over hotels. Based on last year's statistics, an increase in occupancy of vacation rentals is expected for this Spring Break, which will help set a new record growth in 2024.
Trends in the travel accommodation market
In 2023, the Spanish hotel industry registered a 15.9% increase in bookings. Meanwhile, vacation rental grew by 69.1% year-over-year (YoY). These statistics show a rising trend for national and international tourists to choose alternatives within the vacation rental sector.
For 12 years, the experts at Ideal Property Mallorca have been working in vacation property management. Their professionals explain that the intimacy, comfort and versatility of this type of accommodation end up winning over guests, who return to choose them year after year.
Spring break in Mallorca, the second most popular destination
Last year, 14.4 million travelers visited the Balearic Islands, both residents of Spain and tourists from the United Kingdom, France and Germany, mainly. For this reason, the Balearic Islands ranked second among the most chosen destinations by international tourists with 16.9%, a list led by Catalonia with 21.2%. But they weren't in second place from the start.
In March 2023, before Easter Break in Mallorca, the Mediterranean islands ranked third in the ranking for Spanish destinations chosen by non-residents behind the Canary Islands and Catalonia, with 27.5% and 18.7% of overnight stays respectively. The travelers who arrived during Easter holidays and throughout the summer helped the autonomous community climb to second place in the list.
Therefore, the vacation rental sector in Mallorca has high expectations for this Spring Break. They are betting that the arrival of travelers who opt for apartments or holiday houses for rent in Mallorca instead of hotels will increase. A higher occupancy rate in this sector will help the Balearic Islands in the struggle with Catalonia for the most popular destination for international tourists.
Contact Information:
IPM
info@ideal-property-mallorca.com
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