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HomeLatest NewsThe rise in hotel prices keeps activity below pre-Covid levels

The rise in hotel prices keeps activity below pre-Covid levels

Date: May 26, 2024 Time: 07:58:46

Hotel activity closes 2022 with 6.5% fewer overnight stays than in 2019, a year before the pandemic dealt a severe blow to world tourism. In this context, in addition, inflation has triggered the prices of stays, becoming more expensive by up to 17% according to the latest data published this Tuesday by the National Institute of Statistics (INE). In this sense, the price increase last year was four points higher than in 2021, after a drop in 2020 of around 7%. However, occupancy, which largely determines the profitability of the sector, remains somewhat below then and stands at 57.6% (63.7% on weekends) compared to 60.2% (66.1% on weekends). ) from before covid.

Thus, the average rate (ADR in English) stood at 104.7 euros on average in 2022 (91 euros in 2019), but the average revenue per available room (RevPAR) stood at 67.8 euros on average (61, 2 euros then), because this indicator is highly determined by the level of occupancy and is a good reflection of profitability. Hotel rates have been growing uninterrupted since mid-2021, after continuous falls since the start of the covid in March 2020.

The autonomous communities with the highest price growth were Madrid (32.1%), Catalonia (25.7%) and the Basque Country (20.6%). The price variation rate in the month of December stood at 7.8% interannual, the lowest of the entire year, in which up to 29.5% (in April) have been registered. Since that peak, prices, even at high growth rates, have been moderating.

International tourism is resident

Hotels registered higher growth among non-residents (144.7%) than among nationals (32.1%). Compared to 2019, the nights consumed in 2022 are 6.5% lower. A part of foreign tourism still remains to be recovered (10.1% below three years ago), while nationals are already even 0.3% above then. Although Spanish travelers are almost 52% of those who moved in 2022, they made 37.7% of the nights. For their part, non-residents consumed 62.7% of the registered overnight stays.

The Balearic Islands concentrate the highest degree of occupation

Andalusia, Catalonia and the Valencian Community were the destinations most chosen by Spanish travelers. Foreigners mainly opted for the Canary Islands, the Balearic Islands and Catalonia. Along the same lines, the Balearic Islands presented the highest degree of bed occupancy (74.2% on average), followed by the Canary Islands (68.1%) and Catalonia (57.7%). The main tourist areas by number of overnight stays in 2022 were the island of Mallorca (with 43 million), the island of Tenerife (24.1 million) and Barcelona (20.7 million). Travelers from the United Kingdom and Germany made 89.3 million hotel overnight stays in 2022, which represented 44.5% of the total of non-residents. Those of the British increased by 305.8% and the Germans, by 101.7%.

December has been the month with the best data

Last December, hotel stays totaled 16.6 million, 25.6% more than a year earlier, with a greater weight of international tourism (9.4 million) than national tourism (7.1 million). In December 2019 there were 16.9 million. The average stay rose 1.8% over the same month in 2021, up to 2.8 nights per traveler. Andalusia, Madrid and Catalonia were the preferred destinations for domestic travelers while international travelers opted above all for the Canary Islands (accumulates more than 50% of the nights used), Catalonia and Andalusia.

In December, 47.3% of the places offered were covered (practically the same as in 2019), which rises to 51.9% on weekends (in this case five points below before the pandemic). Travelers from the United Kingdom and Germany accounted for 24% and 15.3% of all non-resident overnight stays, followed by French, Italian, American and Netherlands travelers.

* 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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