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Hotel companies register a positive summer thanks to the boost in luxury demand

Date: May 26, 2024 Time: 06:17:25

This will be the definitive summer where the tourism sector will give the definitive shelving to the pandemic. The big hoteliers such as Meliá, Barceló or NH assure that the results of the season are positive and exceed or at least equal those of last year, which had a very high level of tourist demand due to the ‘champagne’ effect, being the first without restrictions to travel since the pandemic.

Meliá Hotels International has indicated to EFE that in its holiday establishments in Spain -Balearic Islands, Canary Islands and peninsular coasts- the positive trend and the forecasts announced in the presentation of the results for the first half of the year last July, which pointed to a good evolution of the reserves in the third trimester. These forecasts are being fulfilled, since the reserves not only exceed, as the company announced then, around 30% those of the same period of 2019 in monetary terms, but they even improve by high digits those registered for the third quarter . from last year.

Likewise, the trends pointed out in terms of the recovery of the ‘mix’ of issuing markets are confirmed, especially the British and the American. In addition to recovering anticipated sales, the Majorcan hotel group is having “a very positive behavior” of last-minute sales, again especially from the United Kingdom.

Demand for luxury hotels is growing

On the other hand, the nationality with the greatest increase and rate contribution is the American, which is especially positive for its ‘luxury’ hotels in the Balearic Islands and the new Zel Mallorca. In general, the increased demand for luxury hotels and superior rooms is also reaffirmed, the company has added.

And this demand, together with the rise in the average rate, especially in said segment, are helping the three aforementioned areas “improve results from previous years, with occupancy that continues to improve, but that still has an improvement path”, according to Melia. Along the same lines, the Barceló Hotel Group has told EFE that its results for the summer season are positive, thanks to the advance sales that the company achieved both in the domestic market and in the main international issuing countries, especially in the United Kingdom. . .

Revenues grow 25%

In the absence of closing the month of August, the group is 25% above last year in revenue, highlighting “the very good behavior” of its hotels in the Balearic Islands, Catalonia, Levante and northern Spain, where it has reached 90 % Of occupation. Barceló has detailed that, although at the beginning of the season there was a certain slowdown in sales, especially in the national market, there was finally a reactivation of demand at the last minute, not only due to the high temperatures, but also because people I really wanted to go on vacation.

Regarding rates, the hotel company recalled that it has increased prices “moderately” compared to 2022 and it has done so not only due to the increase in inflation and energy costs, but also due to “the significant investment it has made in recent two years in the repositioning of various hotels in Spain”. NH Hotel Group has also indicated to EFE that the behavior of the different destinations in Spain (mainly on the coast) “continues to be positive” this summer.

Better results in July than in August

Although the results in July are better than in August compared to the previous year, both months experienced double-digit growth, of 19%, compared to 2019, before the pandemic, he pointed out.

According to NH, the month of July was favored by international events, both business and leisure, in cities such as Madrid (Gay Pride and MadCool) and Barcelona (World Parkinson’s Congress and Harry Styles concert) in Barcelona, ​​​​as well as in San Sebastián (Tour de France and Donosti Cup), Pamplona (Sanfermines) or Vitoria, among others. “This allowed it to close comfortably above last year, thanks to the strong performance of destinations such as Barcelona, ​​Málaga, Valencia, San Sebastián, A Coruña or Alicante, among others, both in occupancy and in price,” NH has detailed.

For August, the data is also double-digit growth compared to 2019, but if compared to last year, destinations such as Barcelona or Santiago de Compostela “miss” events from that month of 2022. Despite this, The company highlights “the good performance of other areas (Cantabrian coast, Coruña, Andalusia, Valencia or even Madrid) that cushions this fall, managing to match the results at the end of 2022”.

Regarding the issuing markets, the national one accounts for practically 55% of the nights that the chain sells, a percentage that, however, is lower than that of 2019 or 2022, so that it gives weight to other countries such as the United States, which reaches a 10% share, followed by the United Kingdom, France and Mexico, all growing at double digits.

* This website provides news content gathered from various internet sources. It is crucial to understand that we are not responsible for the accuracy, completeness, or reliability of the information presented Read More

Puck Henry
Puck Henry
Puck Henry is an editor for ePrimefeed covering all types of news.
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