Post by account_disabled on Mar 14, 2024 5:44:02 GMT -5
The Hotel Sector Barometer, prepared jointly by STR and Cushman & Wakefield, demonstrates the full recovery of hotel activity after the restrictions suffered during the pandemic. This recovery is reflected in a good occupancy figure for the first quarter of 65%, 26.4% more than last year and only two percentage points below that achieved in 2019.
Regarding the ADR (average daily price) it has stood at 120 euros, 13% more than that achieved in 2022 while the RevPAR (revenue per available room) has benefited from both the improvement in demand and the increase prices with a figure of 78 euros, 43% more than the 54 euros of the same period last year. In the first quarter of 2019, the ADR throughout Spain was 103 euros and the RevPAR was 69 euros ; which means that in 2023 it is +16% and +13%, respectively.
The Canary Islands and Malaga lead the occupancy ranking by destination
During the first quarter of the year, the Canary Phone Lead Islands have confirmed their prominence as a destination in high season with an excellent occupancy level that has grown to 82% (last year it was 66% and in 2019 it was 79%). Next, Malaga follows with 74.3%, 12 percentage points more than last year and also half a point more than in 2019, demonstrating that the capital of the Costa del Sol attracts tourism throughout the year in its commitment to deseasonalization . In the rest of the cities, the great improvement in Barcelona stands out, 67% during the first three months when in 2022 it was 47%, a growth of 43%. Among the destinations with the lowest occupancy are those most affected by seasonality such as Marbella (50%) or the Balearic Islands (49%).
"We have seen a recovery that has been V-shaped since the end of the pandemic with a price increase that responds to the strength of demand and also to the effect of inflation. The real challenge at the moment is to ensure that the operating profit does not is suffering from cost increases,” says Bruno Hallé, partner and co-director of Cushman & Wakefield Hospitality in Spain.
ADR reaches 120 euros in the first quarter
Prices continue their upward trend since the recovery of activity, benefiting from the increase and consistency of demand, but also from inflation. For the moment, hotels see how demand responds positively to this increase, which has allowed them to raise the ADR for the first quarter to 120 euros.
The ranking of average prices is led by Marbella with 152 euros despite the low occupancy, while the Canary Islands with 145 euros benefit from the high season (20% more than the 120 euros in 2019) and Barcelona, with 143 euros (a 7.5% more than in 2019), the arrival of international tourism is positively noted. Madrid, for its part, registers an ADR of 129 euros, an excellent figure that is 20% more than the 107 euros in the same first quarter of 2019, before the pandemic.
Among the destinations in Spain that have exceeded 100 euros of ADR, it is also worth highlighting Malaga (110 euros) and Seville (105 euros) and Valencia (99 euros) very close to that level. The lowest ADR is found in Zaragoza (66 euros).
"The hotel industry has shown that product quality is a safe bet for operational improvement because it reinforces demand, building loyalty and allowing prices to increase depending on market conditions," says Albert Grau, partner and co-director of Cushman & Wakefield Hospitality. in Spain.
Regarding the ADR (average daily price) it has stood at 120 euros, 13% more than that achieved in 2022 while the RevPAR (revenue per available room) has benefited from both the improvement in demand and the increase prices with a figure of 78 euros, 43% more than the 54 euros of the same period last year. In the first quarter of 2019, the ADR throughout Spain was 103 euros and the RevPAR was 69 euros ; which means that in 2023 it is +16% and +13%, respectively.
The Canary Islands and Malaga lead the occupancy ranking by destination
During the first quarter of the year, the Canary Phone Lead Islands have confirmed their prominence as a destination in high season with an excellent occupancy level that has grown to 82% (last year it was 66% and in 2019 it was 79%). Next, Malaga follows with 74.3%, 12 percentage points more than last year and also half a point more than in 2019, demonstrating that the capital of the Costa del Sol attracts tourism throughout the year in its commitment to deseasonalization . In the rest of the cities, the great improvement in Barcelona stands out, 67% during the first three months when in 2022 it was 47%, a growth of 43%. Among the destinations with the lowest occupancy are those most affected by seasonality such as Marbella (50%) or the Balearic Islands (49%).
"We have seen a recovery that has been V-shaped since the end of the pandemic with a price increase that responds to the strength of demand and also to the effect of inflation. The real challenge at the moment is to ensure that the operating profit does not is suffering from cost increases,” says Bruno Hallé, partner and co-director of Cushman & Wakefield Hospitality in Spain.
ADR reaches 120 euros in the first quarter
Prices continue their upward trend since the recovery of activity, benefiting from the increase and consistency of demand, but also from inflation. For the moment, hotels see how demand responds positively to this increase, which has allowed them to raise the ADR for the first quarter to 120 euros.
The ranking of average prices is led by Marbella with 152 euros despite the low occupancy, while the Canary Islands with 145 euros benefit from the high season (20% more than the 120 euros in 2019) and Barcelona, with 143 euros (a 7.5% more than in 2019), the arrival of international tourism is positively noted. Madrid, for its part, registers an ADR of 129 euros, an excellent figure that is 20% more than the 107 euros in the same first quarter of 2019, before the pandemic.
Among the destinations in Spain that have exceeded 100 euros of ADR, it is also worth highlighting Malaga (110 euros) and Seville (105 euros) and Valencia (99 euros) very close to that level. The lowest ADR is found in Zaragoza (66 euros).
"The hotel industry has shown that product quality is a safe bet for operational improvement because it reinforces demand, building loyalty and allowing prices to increase depending on market conditions," says Albert Grau, partner and co-director of Cushman & Wakefield Hospitality. in Spain.