Official figures released in March from the Cape Verdean National Statistics Institute (INE) show that the number of hotel units across the archipelago rose by a mighty 9.6% year-on-year, from 178 hotels in 2010 to 195 in 2011. Even more interesting is the fact the hotels are getting larger to cater to demand with the number of rooms rising a huge 34.1% for the same period.
Adam Cornwell, Managing Director of Feltrim International promoting real estate on the Islands, comments, "Cape Verde is one of the fastest growing tourist markets in the world and inevitably the hotel industry is responding. These 17 new hotel establishments added 7,900 rooms and 14,000 beds to 2010 figures, yet there's still plenty of room for growth as tourist arrivals continue to increase by around 20% per annum. It is projected that Cape Verde will reach half a million tourists annually by 2015 and one million by 2020 as northern Europeans wake-up to the potential of this mid-haul winter sun destination."
This news comes hot on the heels of a positive report from holiday rentals website HomeAway. Not only did Cape Verde enter the top ten holiday destinations for the first time, but it ranked an impressive fifth most popular destination for booking enquiries between October and December 2011. The website said it was a hot mid-haul market emerging as a strong winter sun rival to the Canaries and highlighted the increase in hotels, charter flights and package holidays over the last few years. Skyscanner also ranked Cape Verde highly, in third place, on its list of emerging destinations in 2011.
With additional hotel units of course comes additional employment opportunities in Cape Verde and the same report stated that employment within this sector increased by a welcome 27.6% from 2010 to 2011. Geographically, the Islands of Sal and Boa Vista boast the greatest number of hotel units, 44.7% and 31.1% of the total respectively – a number of them now of five star rating to cater to the demand from discerning guests after the ultimate in luxury. Boa Vista in particular is working hard to maintain its ‘five star status', emphasizing quality over quantity, and keeps a tight control over build density to protect the environment and promote sustainability for investors and locals and avoid over-saturation.
Joining the five star fraternity is the Santa Mónica Beach Resort & Spa on the Island of Boa Vista. With many of the 1,140 units available for sale on a freehold basis, some serious heavyweights have put their name to the project including Wyndham, the largest hotel operator in the world, to handle guest services and rental management.
Hotel occupancy, according to the Government, is currently 90% and there is no low season due to average daily temperatures consistently hovering between 21ºC and 30ºC which is warmer and more reliable than even the Canary Islands – promising news for strong rental yields.Google+