The hotel sector has faced great challenges since the arrival of lodging platforms outside the formal segment and the impact on the economy that has hit their finances hard. However, with the firm conviction of providing a high-quality service in accordance with the needs of the market, Estelar Hotels has focused on improving its customer experience to continue being among travelers’ favorites.
In an interview with Portafolio, Miguel Díez, president of the hotel firm, spoke about its new focus: the international segment and nature tourism. He also said that he expects its finances to improve this year and enter markets such as Montería, the Llanos Orientales, Guatapé and La Guajira
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How did Estelar do in the first quarter, compared to last year?
Thanks to the chain’s new approach, focused on the guest experience, it has led us to drive 4.6% growth in sales in the first quarter compared to the same period of the previous year.
The sale of new services in hotels has had a very favorable influence on our results. In total, the Hoteles Estelar chain welcomed 302,433 guests in the first quarter. I highlight our ability to adapt and focus on the most demanding new markets where customer satisfaction becomes a key element in today’s hotel industry.
Furthermore, it is worth noting that during the first quarter we achieved an occupancy rate of 62.7%, exceeding the sector average by 7.2%, an indicator that confirms the consolidation of our chain as the preferred option for travelers.
How do you perceive the growth of international tourism over domestic tourism in the last year?
Domestic tourism has shown a significant decrease in all regions, partially offset by international tourism, which has been growing but at a slower rate than in 2023.
This decline can be attributed to several factors, such as security, global economic uncertainty, fluctuations in exchange rates, political crises in various regions and increasing competition from other international destinations.
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However, given that an important pillar of our strategy is the growth of the international market, we are adjusting our actions to mitigate the impact, focusing on diversifying our markets with targeted campaigns and unique experiences for international travelers. The key will be to remain flexible and respond quickly to market dynamics to continue attracting tourists from Colombia and the world.
Will you make new investments this year?
This year we will continue focusing our efforts to stand out as a chain of great relevance in the hotel industry and sustainable tourism in the country.
We seek to leverage technological solutions to make the check-in and check-out processes more efficient. We also have the support of owners and shareholders to continue with the renovations of the hotels and environments, increasingly strengthening our gastronomic proposal, consolidating the presence of our brands at a national level, offering services at the level of the major international hospitality brands.
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Do you have a focus on more destinations?
Yes. We continue as a company in the search for new growth opportunities in the regions. We are advancing the Torre Suites Project in Pereira, whose investment amounts to 75,000 million pesos, and exploring new tourist destinations in Colombia, taking advantage of the growing demand for nature tourism and ecotourism. Destinations such as Montería, the Llanos Orientales, Guatapé and La Guajira are in our strategic focus.
Seeking to offer travelers unique and authentic experiences in natural environments, responding to the new demand and trends of national and foreign tourists.
Are you looking to grow your occupancy rate?
Estelar’s average occupancy in the first quarter of 2024 was 62.7%, levels even higher than those recorded in the pre-pandemic period as I mentioned, however we always seek to grow.
The strategies we are working on to boost occupancy are focused on offering a differentiating service, complementing our offer with innovative experiences and including in the portfolio the different tourist attractions of the cities and regions where our properties are located.
The growth that we have planned in attracting the international market is an important factor that will allow us to achieve the expected occupancy levels.
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How are the finances going? In October a year ago we were talking about how they were hit and have not yet recovered from the pandemic. Are they still like this?
For the year 2024 we estimate results superior to those of 2022 and 2023, very good years for the Colombian hotel industry, already those recorded before the pandemic hit.
The sales and marketing strategies have allowed us to achieve the income goals that, combined with operational efficiency actions, have achieved the expected Ebitda margins that are above those recorded in 2019, which was a historic year for tourism.
How much do you expect to grow this year and what strategies will you use to achieve this goal?
For this year, we project a growth in total sales of 10.1%. This growth will be driven by a nearly 3 percentage point increase in occupancy and a 7% increase in average rate.
These expectations reflect our confidence in the market recovery and in our ability to offer exceptional experiences to our guests, where we will continue to focus on improving our offerings and services to remain competitive and meet the demands of travelers.
PAULA GALEANO BALAGUERA
Portfolio Journalist
