We found two options of currently trading agroturismo hotels, one was ideal with the exception it was outside the budget, the other required some renovation work to be at its best.

We were able to offer assistance and an introduction to a bank to help with financing the additional amount on the first property, make suggestions as to how to increase the turnover and profit.

The second property we negotiated a substantial reduction and organised quotes for the refurbishment of the business so that the clients could make a good comparison of the two.

The families after careful consideration decided to go for the first hotel as the potential for growth that could be achieved outweighed the cost of the finance.

They have taken over the business now and the previous owner is assisting them until the end of the tourist season 2008.

Well done, we believe you made the right choice. Good luck.

President of ABTA, Justin Fleming, said the August bank holiday is usually very busy as it marks the end of summer. He said that this year also, a large number of people are enjoying the warm summer. The summer favourites, mainland Spain and Greece will also be full of people.

Walkouts at Stansted and Gatwick on 29 August and bank holiday Monday were brought to an end after talks between Unite unions, the GMB and employers Swissport Strikes on 27 August and 1 September at Manchester had also been cancelled. Another GMB strike, however, is still due to be staged on Monday.

Airfield Services staff had rejected a 1.5 percent pay hike. They said that the amount was paltry. Gary Pearce from GMB said that they have a new improved offer after the talks at conciliation service ACAS. He said that because of this improved offer, all the strikes were suspended until they get the reaction of the staff. A spokesperson for Unite said that the industrial action has been suspended and also that after 12 hours of discussion at Acas, now they have a revised offer with revisions made and they would now survey the members.

Many prospective purchasers who are looking for a business for sale in Majorca are expected to use the holiday period as a fact finder. We at Target Mallorca normally have several would be business buyers over during this period.

www.youtube.com/watch?v=RAMs2RCzmqM

After the meeting, ministry resources said that in spite of bad economic conditions all over the world, the tourism industry of Spain is doing well. They said that, in general, the number of people visiting Spain had remained stable during the last 7 months showing a slight decline of 0.2%. The ministry assumed that the Spanish tourism industry had been very resilient despite the unfavourable conditions. A research conducted by the National Institute of Statistics indicated that in July, overnight stays by foreign visitors all over the country had increased by 2.9 percent. The research also showed that The Balearics had the highest hotel occupation for July with it being 86.95 % of the total capacity.

In July, 9’176’866 visitors stayed overnights in the Balearics’ hotels – 1,388,557 foreign visitors and 234,233 Spaniards. However, the hotel prices have increased the most in Aragon and Balearics, when compared to last year.

The government Spain is planning to launch its Tourism Overhaul Plan for the year 2020. This will include renovating old and established tourist destinations that are wearing down. This will also be advantageous to the different sectors of industry, other than tourism.

During our survey of business owners in Majorca we found that it was not really the number of tourists that were down it was the spend per head. Mainly due to the UK credit crunch and also to the exchange rate.
It is still to be said that good businesses although experiencing this down turn have done so to a lesser extent.
What has also happened is that there is forecast an increase in the amount of businesses for sale in Mallorca before the end of the season, making this a buyers market and one where you need Target Mallorca to ensure you get the best deal for your money.