According to the ‘Hotel Sector Barometer’ by STR and Cushman & Wakefield Spain, Madrid and Barcelona have reached a record of revenue per available room (RevPAR), with growth of 15.1% and 12.7%, respectively, during the First semester of the year.
Thus, the RevPAR of Barcelona during the first half of this year has grown by 12.7% over last year, from 101.39 euros to 114.26 euros. This figure places the Catalan capital as the city with the highest price, followed by Marbella, with 102.98 euros.
However, Madrid leads the growth of RevPAR during the first half of 2019, reaching 91.67 euros from 79.67 euros last year, up 15.1%. Alicante and Seville have been other destinations that have grown by more than 10%, 15% and 11.1%, respectively.
Meanwhile, the Canary Islands and the Balearic Islands have seen their RevPAR reduced by 4% and 3.6% respectively, with a deviation in demand from other competing countries such as Turkey, Egypt, Tunisia or Israel, according to the study.
BARCELONA, MARBELLA AND MADRID LEAD THE MIDDLE PRICE DAILY
Madrid, Barcelona and Marbella are the cities where the average daily price (ADR) of the hotels has grown the most, with an increase of 13.2%, 6.5% and 2.8% respectively.
Malaga, Seville and Valencia also registered growth above 5% in the ADR, while the Balearic and Canary Islands decreased almost 2%.
The whole of Spain grows by 5.3% in ADR, an upward trend that could be consolidated during the rest of the year waiting for the evolution of holiday destinations that may be most affected by the effect of ‘Brexit’ and recovery from other competing countries.
As for the occupation, Malaga is the city with the highest occupancy rates during the first half of the year, exceeding 80%. They are followed, in this order, by Seville, Barcelona, the Canary Islands and Madrid, all of them above 75%.
In percentage and according to the Observatory, Barcelona has been the city with the highest growth compared to the same period of 2018, with 5.8% more. The city has recovered occupancy rates, which have also boosted the ADR and RevPAR thanks to the recovery of leisure tourism that has returned after the decline in late 2017 due to the political situation, mainly.
Together, most destinations have registered occupations above 70%.