H&B CUSHMAN 11 en-uk-8.1

CUSHMAN & WAKEFIELD’S VIEWPOINT

WITH PRICE INCREASES AND REVENUE GROWTH ACTIVITY LEVELS HOTELS IN SPAIN

GET BACK TO 2019’S

Spanish hotels recorded average occupancy of 65% during the first quarter of 2023, a rise of 26.4% on the figure for the same period the previous year when the Omicron variant was impacting results. The recovery in demand has driven rises in average daily rates (ADR) to €120, whilst revenue per available room reached €78, representing growth of some 43% on the figures for 2022.

Looking back to average rates in 2019, Spain as a whole has seen growth of 15%, withMadrid standing out at 20% (€129 this year compared to €107 in 2019).

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roduced jointly by STR and Cushman & Wakefield, the Spanish Hotel Sector Barom eter shows a full recovery in hotel trading activity following the restrictions imposed during the pandemic. This recovery is embodied by a strong figure of 65% for first-quarter occupancy, some 26.4% more than last year and only two per centage points below the figure achieved in 2019.

IN ITS PEAK SEASON, THE CANARY ISLANDS HEADED UP THE RANKING IN TERMS OF OCCUPANCY (82%) AND REVPAR (€119)

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