Real estate and the development of tourism

Tourism accommodation is an affair for the real estate business. As a concept, tourism accommodation can only be defined and understood in terms of demand. When a tourist requires overnight accommodation, this product constitutes tourism accommodation. Looked at in this way a home for the aged, even when located in a tourism region, does not constitute tourism real estate. The World Trade Organisation (WTO) has classified different types of accommodation. This classification shows clearly what a great variety there is in types of tourism accommodation. The WTO list makes a particular distinction between collective types of accommodation and private accommodation. In the first category we find commercially operated hotels and para‐hotels. The second category concerns second homes which are either exclusively used by the owners or are at times made available to family and friends, at no charge

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