The EU and Mediterranean countries are constantly attempting to exchange expertise in order to strengthen the external tourism market. Tourism and all its niches have long been at the very top of large EU or Small State Summits, and exchanges and conferences are never-ending.
Networking has certainly boosted the Mediterranean tourism market to its peak in the past years, yet some island states aren’t relying on networking events to give their touristic product a good boost. Some choose to stand out.
Mediterranean Islands like Malta seem to not have to push too much to offer the best possible product. However, given today’s competitive and dynamic market, tourism pioneers in the Land of Milk and Honey are constantly working on improving its own touristic identity.
Malta owes its success in the global tourism spectrum to experts analyzing every niche’s performance. From hotels, to restaurants, to retail outlets. The Malta Hotels and Restaurants Association has in fact recently reviewed the second quarter of 2019 with industry stakeholders.
MHRA-CEO, Andrew Agius Muscat introduced the session, before Deloitte Leader Financial Advisory, Raphael Aloisio, gave a very detailed presentation on how the hotels performed during the second quarter of 2019. Key indicators such as the Business Mix, occupancy, average rates, revenues per available and occupied rooms and gross operating margins were highlighted for all stakeholders to note possible improvements or changes.
The report was followed by a Round Table discussion addressing financial, marketing, environmental and EU funding opportunities in the hospitality industry. Each panel member represented a different niche of Malta’s tourism industry.
These were: Steve Ellul, Head Asset Management of Bank of Valletta, Dr. Gavin Gulia, CEO and Chairman of the Malta Tourism Authority, Prof. Perter Sharratt, Projects Advisor for the Mediterranean Tourism Foundation, and, Joe Tanti, CEO of the Malta Business Bureau. The discussion was facilitated by Andrew Agius Muscat.
Tourism Minister Konrad Mizzi, whose closing remarks focused on the Government’s vision for the industry in the years to come, was also present for the review.