Spring Hotels, one of the Canary Islands leading hotel groups, has announced a new initiative to provide housing for its employees in response to the growing difficulty of accessing affordable accommodation in the south of Tenerife.
The company has acquired two unfinished residential buildings in San Isidro with plans to convert them into around 94 apartments for staff.
The project is aimed at easing the recruitment process in a market where high rental prices are making it increasingly difficult for workers in the tourism industry to find somewhere affordable to live close to where they work.
This comes just a couple of weeks after Spring completed the largest hotel acquisition in Spain to date, the purchase of the three Mare Nostrum Resort properties in Playa de las Américas for a total of €430 million. The move is set to double the company’s footprint in the south of the island.
Spring Hotels CEO, Miguel Villarroya, explained the company’s proactive approach: “We’ve asked ourselves what the future will look like if we continue to grow but can’t hire staff because of unaffordable rents. This is our solution.”
The company aims to have the residences ready as soon as possible to support both current and future employees.
