Holiday homes now account for more than 50% of tourist accommodation

  • Canarian Weekly
  • 12-01-2024
  • Business
  • Photo Credit: AMTC
Holiday homes now account for more than 50% of tourist accommodation

A new report from the Canary Islands Tourism Observatory, in collaboration with the University of La Laguna, has revealed significant findings regarding tourist accommodation in the archipelago. The report, titled "Distribution and concentration of tourist accommodation in the Canary Islands," was presented on Tuesday by Jessica de León, the region’s Minister of Tourism.

The study shows that hotels now constitute less than half of the total accommodation options available in the Canary Islands. With a current inventory exceeding half a million accommodation places, non-hotel alternatives account for 54%, while hotels represent the remaining 46%.

Breaking down the non-hotel category, holiday homes contribute 36% to the overall accommodation offer, whereas tourist apartment complexes make up 18%. With 46% occupied by hotels, there are 545,344 tourist accommodation places in the islands.

The report's release falls in line with ongoing efforts to implement the Law on the Sustainable Tourist Use of Housing in the Canary Islands. Jessica de León emphasized the need for regulation in the face of the increasing popularity of holiday homes, particularly to prevent issues such as the shortage of residential rental housing.

“There are already two municipalities with more holiday homes than hotel accommodation."

She pointed out that some municipalities, including Las Palmas de Gran Canaria and La Oliva in Fuerteventura, already have more holiday homes than hotel accommodations. This trend underlines the urgency of regulating tourist accommodation supply with global practices and the rapid growth of holiday home offerings.

The deputy Minister of Tourism, José Manuel Sanabria, highlighted six municipalities where tourist places outnumber registered inhabitants, emphasising the diverse challenges faced by different regions in managing their accommodations. Professor Raúl Hernández noted that the Canary Islands boast an average of eight holiday rental spaces per 100 inhabitants, with variations across different areas.

As of December 2023, the archipelago hosted approximately 200,000 holiday home beds. Ownership statistics from October indicated 28,560 owners, with 71% being individuals and 28% companies. Furthermore, half of holiday homes are owned by people with a single property, while the other half belongs to those who utilise two or more properties for this purpose. The report sheds light on the complex dynamics of the accommodation sector in the Canary Islands, urging a careful approach to regulatory measures.