CaixaBank reports nearly 50% increase of the money loaned to the hotel industry in Spain for 2018 YoY

CaixaBank reports nearly 50 percent increase of the money loaned to the hotel industry in Spain for 2018 YoY. Foto: Diego Puerta

(PRESS RELEASE) BARCELONA, 19-Feb-2019 — /EuropaWire/ — CaixaBank has just released information about its loan exposition to the Spanish hotel industry for 2018. According to data from the bank, it has loaned 2,186 billion euros to the hotel industry in Spain during 2018, which represents 46% increase as compared to the previous year (2017). Last year, the bank has provided 1.5 billion euros worth of loans to the Spanish hospitality industry.

The number of single loan deals during 2018 has increased too as compared to the year earlier. The 2,186 billion euros loaned in 2018 represent 2,800 single deals for the bank, which is 8.5% more than what the bank had as number of loan deal in 2017.

According to data from the bank, the Balearic Islands, Catalonia, the Community of Madrid and the Canary Islands are among the communities that benefited most from CaixaBank’s loans for hotelier companies and businesses in 2018.

The money loaned to the hotel industry has gone through the bank’s Hotels & Tourism business lines, which have been developed with the aim of consolidating CaixaBank’s leadership on the tourism market through a new personalised model for hotelier companies and businesses.

It is the second year in a row for CaixaBank to report of significant growth in loans granted. The bank has substantially exceeded the goal that was set at the beginning of 2018 of growing by 20%.

CaixaBank Hotels & Tourism has more than 8,900 clients from the Spanish hospitality industry, with combined revenue of more than 5 billion euros per year establishing the bank as benchmark for the hotel sector in Spain.

CaixaBank Hotels & Tourism arm relies on a team of 30 professionals that offer each hotelier an added-value service, based on excellence, quality and proximity.

The goal of CaixaBank Hotels & Tourism is to help hoteliers optimise the profitability of their businesses as well as simplify their daily activities by taking into account the specific needs of the different subsectors: hotels, tourist accommodation and campsites.

The bank offers free of charge prior analysis, advise on clients looking to invest in the modernisation of existing hotels, financing for the acquisition of hotel assets and financing new construction projects.

CaixaBank Hotel & Tourism has been very active in the industry through out the 2018, having organised 45 meetings with benchmark employers in the industry across Spain and signed 40 agreements with hotel federations and associations in the country, including with the Spanish Confederation of Hotels and Tourist Accommodation (CEHAT).

CaixaBank has recently released its tourism report on Spain and the outlook is rather positive for the 2019. Year after year the country’s tourism sector has seen unprecedented growth ending up in 2018 with an absolute record number of international tourists visiting Spain – nearly 82 million people. According to the analysts at CaixaBank Research, this record number of international visitors will remain pretty much the same for the 2019 too. The key take from the report is that the sector is entering a phase of consolidation of the excellent figures achieved in recent years.

However, tourist expenditure, according to the tourism report, is seen to keep on growing despite seeing the number of tourists stabilised, which is an indication of the sector starting to attract higher quality tourists. The actual figures show that tourist expenditure has increased by 2.8% and daily expenditure is up 6.4% as compared to 2017.

The FRS Inmark market penetration study reveals that some 48% of Spanish companies with revenue between 1 and 100 million euros are actually CaixaBank customers turning the bank into a native choice for companies and businesses in Spain.

CaixaBank operates some 120 offices across Spain with more than 1200 highly trained professionals ready to provide competent advice to companies.

Those excellent results are achieved under the tenure of CaixaBank’s chairman Jordi Gual and CEO Gonzalo Gortázar.

SOURCE: CaixaBank