In 2009, the Ibizan hotel industry faced an economic crisis and sought to reinvent itself in a new social landscape. This led to the rise of the luxury sector on the island, with exclusive services, including high-end car rentals. However, after reaching its peak in 2022, the luxury market is experiencing a downturn due to economic uncertainties this summer.
Joan Navas, owner of Jan Cars, a veteran luxury car rental company, reports a drop in business volume compared to the previous year. While they have managed to rent out a significant portion of their fleet during the high season, there has been a decline in demand. Similarly, Emilio Diaz, CEO of Dipesa Group, confirms the expected downturn and credits their loyal clientele for helping them weather the current challenges.
The luxury boom in recent years has encouraged other car rental companies like Class Rent a Car to focus on this niche market. They introduced their Class Premium brand in response to growing demand from clients and hotels. However, despite the affluent clientele, some customers mishandle the luxury vehicles, leading to headaches for the rental companies.
Overall, while this summer hasn’t matched the success of the previous year, the luxury car rental businesses remain satisfied with their experience in the niche market.
For the full article, please visit Diario de Ibiza website here.