The high inflation rate on food and beverages has continued to play an important role in hotels’ cost structures, as breakfast is typically included in the room charge, thereby increasing the pressure on margins. During 2018, hotels faced greater difficulty in the acquisition of all kinds of goods, including parts for lifts and other machinery, linen products, cleaning products and staples, which were becoming scarce nationwide.
Eurobuilding Group was the leading player in hotels in 2018 with its outlets spread throughout the country. The group’s Puerto Ordaz (Bolívar) outlet was opened in 2009.
While there is increasing development of technological platforms such as Airbnb, short-term rentals are still in a niche. However, other lodging providers, including hotels, see the potential of short-term rentals as a huge disadvantage for formal establishments, especially when compared with the enormous burden of benefits, taxes, regulations and infrastructure that legal businesses must face.
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Understand the latest market trends and future growth opportunities for the Lodging industry in Venezuela with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
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This report originates from Passport, our Lodging research and analysis database.
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