EUROPE REPORT |
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OUR ’ ASSET- RIGHT STRATEGY ’ REPOSITIONS OUR BRANDS TO ACHIEVE HIGHER YIELDS AND UPGRADES OUR PORTFOLIO
– MARÍA ZARRALUQUI , GLOBAL
DEVELOPMENT VP , MELIÁ
HOTELS INTERNATIONAL
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It ’ s prudent that investors also address the geopolitical risks of overtourism . A coordinated public policy approach is essential to mitigate the impacts of mass tourism , particularly with mega hotels using disproportionate levels of natural resources . Supported by infrastructure that enables crowd management , initiatives like Majorca ’ s successful redistribution of tourists across the island aim to balance tourism benefits and local community impacts . Investors are increasingly partnering with local businesses to strengthen community engagement and reduce carbon footprints .
“ Most key regulatory decisions will be at a municipal level rather than state , and city authorities will continue balancing the tremendous economic and social benefits of valuable tourism with the
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A guestroom at the 213-room NYX Hotel London Holborn , part of Leonardo Hotels .
environmental , infrastructure , affordability and social cohesion issues , while also remaining mindful of the need to retain a degree of diversification in the local economy ,” said Hatton .
He speculated more cities potentially imposing the kinds of limitations seen in places like Amsterdam : a moratorium on additional hotel rooms ; more and more regulated lodging
The Dilly in the heart of Picadilly in London , part of Leonardo Hotels .
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products ; and private rentals ( where still permitted ) adhering to regulatory requirements that have long bound hotels . “ In the long run , one would expect the relative economic power of existing hotels to rise , when considering the barriers to entry in the relevant market . The other consequence that seems likely is the spread of tourism to destinations less busy than traditional hotspots ,” Hatton said .
Developing hotels in upand-coming destinations gives investors the opportunity to identify the best locations and form strategic , high-quality partnerships . Meliá , for one , has embraced Albania on a large scale , signing its first deal in the Balkan country seven years ago . “ Now , we have more than 20 hotels , five open and the rest under construction ,” said Zarraluqui , noting that Albania is one of the few underdeveloped places in Europe with a unique setting and expansive beaches along the Adriatic and Mediterranean Seas .
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44 hotelsmag . com September 2024 |