{"id":30879,"date":"2024-01-25T16:29:27","date_gmt":"2024-01-25T15:29:27","guid":{"rendered":"https:\/\/www.riu.com\/blog\/?p=30879"},"modified":"2024-01-25T16:29:27","modified_gmt":"2024-01-25T15:29:27","slug":"luis-riu-review-2023-forecast-2024","status":"publish","type":"post","link":"https:\/\/www.riu.com\/blog\/en\/luis-riu-review-2023-forecast-2024\/","title":{"rendered":"Luis Riu: “2023 was a record year and 2024 will be full of big projects, starting with Chicago”"},"content":{"rendered":"

2023 was an excellent year<\/b><\/strong>, not just for RIU, but for the entire tourism industry<\/b><\/strong>. Demand was high in all the destinations where we have hotels. I wasn\u2019t my usual optimistic self at the start of 2023 and was worried<\/u><\/a>, especially about rising costs. On top of this, all the forecasts spoke of a champagne effect, predicting a dramatic rise in travel followed by a drop. However, demand never really weakened. On the contrary, we closed last year with record figures in all indicators and an overall average occupancy rate of 89%, almost five points higher than in 2022<\/b><\/strong>.<\/p>\n

\"Luis<\/a>

Luis Riu, CEO of RIU Hotels & Resorts, on White Bay Beach in Jamaica where the future Hotel Riu Palace Aquarelle is being built.<\/p><\/div>\n

The pandemic changed people’s spending behaviour and this was beneficial for the industry as the public now prioritises spending on leisure and experiences<\/b><\/strong>. What\u2019s more, we don\u2019t put off trips that we could take now, as we might not be able to do so later.<\/p>\n

Therefore, we\u2019re optimistic about 2024<\/b><\/strong>\u00a0as the figures are in our favour and we can continue all our major projects<\/b><\/strong>\u00a0with enthusiasm. One of these projects is the beautiful hotel Riu Plaza Chicago<\/b><\/strong>, which will place our brand in one of the world\u2019s most important cities<\/u><\/a>\u00a0before the end of the year.<\/p>\n

2023, a year of outstanding figures and great challenges for RIU<\/h2>\n

We can\u2019t deny that costs, both of all kinds of goods and financial costs, increased throughout 2023, but fortunately, as demand levels were so strong, we could increase our rates by an average of 10%. Thanks to this and the increase in stays, our turnover rose to 3.607 billion euros, a 24% increase compared to our revenue in 2022<\/b><\/strong>.<\/p>\n

At the end of 2023, we had 97 hotels located in 21 countries<\/b><\/strong>, with a total of 50,088 rooms and almost 100,000 beds.\u00a0<\/b><\/strong>Thanks to the work of our 35,808 employees,\u00a0we welcomed a total of 6.4 million customers in 2023<\/b><\/strong>, 38% of whom were repeat guests.<\/p>\n

1.\u00a0Enhance human resources with more training, a goal for 2024<\/h3>\n

One of the major challenges we faced last year was human resources<\/b><\/strong>. Our hotels were operating at full capacity with no quiet periods of low occupancy and it was difficult to maintain staffing levels, especially for specialised positions with high levels of responsibility such as head chef or head receptionist. This will continue to be a challenge in 2024 and we\u2019ll concentrate on training projects to provide RIU employees with opportunities for promotion and attract new workers<\/b><\/strong>.<\/p>\n

2.\u00a0Riu Plaza London Victoria, RIU’s first urban hotel in the United Kingdom<\/h3>\n
\"Fa\u00e7ade<\/a>

Fa\u00e7ade of the hotel Riu Plaza London Victoria, opened in London in 2023.<\/p><\/div>\n

2023 saw many major projects, the most important being the opening of the Riu Plaza London Victoria<\/u><\/a>, our first city hotel in the UK<\/b><\/strong>. I am very proud of this opening as London is one of the world\u2019s most important cities, with one of the most demanding and competitive real estate markets. The location is unbeatable, just a stone\u2019s throw from Victoria Station and within walking distance of the city’s major tourist attractions. The occupancy rate has remained at levels of over 80% since shortly after the opening<\/u><\/a>, and this is thanks to the good feedback given by our customers. We want to be the hotel of choice for the Spanish market and also for families<\/b><\/strong>\u00a0with our family rooms, buffet breakfasts and unique benefits such as the possibility of booking rooms with guaranteed views of the London skyline.<\/p>\n

3.\u00a0Reopening of the renovated RIU hotels in Spain and the Americas<\/h3>\n
\"The<\/a>

The team of the Hotel Riu Caribe in Cancun with Luis Riu, CEO of RIU Hotels & Resorts, at the reopening in 2023 after being renovated .<\/p><\/div>\n

In terms of repositioning our range of hotels, last year we carried out major renovations<\/b><\/strong>\u00a0at the:<\/p>\n