The Spanish hotel industry closed 2025 with record-breaking results, with a 5.5% increase in revenue per available room (RevPAR), reaching an average of €125.4, driven by an average daily rate (ADR) that climbed to €166.1 after rising 4.8% annually. According to data from the Hotel Barometer compiled by STR and Cushman & Wakefield, occupancy remains at historic highs with an average of 75.5%, highlighting the momentum of destinations such as Malaga and the Canary Islands, which exceed 81%, as well as the strong dynamism of Madrid compared to Barcelona, which is stabilising its figures.
This rate growth, which has reached almost 10% in places such as Marbella and the Balearics, consolidates the profitability of the Spanish market in a scenario of solid demand and operational stability. The Spanish hotel industry closed the 2025 financial year in excellent financial health, achieving an average revenue per available room (RevPAR) of €125.4, representing growth of 5.5% over the previous year.
According to data from the Hotel Barometer, this progress consolidates the upward trend in the sector, which had already set historic records in 2024 and has shown in the last year that it still has room for expansion in its margins. The main driver of this growth has been the increase in the average daily rate (ADR), which reached a new record high of €166.1 in 2025, compared to €158.5 in the previous year.
This 4.8% rise in rates has been particularly pronounced in high value-added destinations such as the Balearics, Marbella, Benidorm and Zaragoza, where growth has been close to double digits. Spain thus stands out from the rest of the continent, with price increases well above the 1.2% average recorded across Europe.
In terms of operational activity, average occupancy in Spain as a whole stood at 75.5% at the end of the year, representing a slight increase of 0.7% compared to 2024. Experts highlight that the market is now in a phase of positive stability within the historical high range for this indicator. By region, Málaga led the national ranking with an occupancy rate of 82.4%, closely followed by the Canary Islands with 81.5% and Alicante with 80.7%, destinations that benefit from a solid strategy of deseasonalisation throughout the year.
In contrast, the lowest occupancy rates were found in the most exclusive and seasonal destinations, such as Marbella (67.2%) and the Balearics (69.5%). However, these occupancy levels have not prevented both destinations from leading the way in terms of revenue, thanks to Marbella recording the highest price per night in Spain, with an average of €315, followed by the Balearics with €187.
This strategy of profitability over volume has enabled these regions to achieve double-digit increases in their final revenue per room.
In the analysis of large urban centres, Madrid continues to perform very positively, with a 5.3% increase in prices and a 6.4% increase in revenue per room, consolidating its appeal for business and luxury tourism. Barcelona, meanwhile, remains a stable market, maintaining its occupancy levels at 78%, although it has experienced slight corrections of less than 1% in both its average rates and total revenue after the record levels of previous years.
Cushman & Wakefield partners Albert Grau and Bruno Hallé emphasise that demand remains resilient despite the push from inflation, which has also contributed to the rise in rates. The forecast for 2026 points to this upward trend continuing, especially in Madrid and Barcelona, where prices are still considered competitive and have room for growth when compared to other European capitals such as London or Paris. The report concludes that strong domestic demand and international interest guarantee the continuity of this expansionary cycle for the hotel real estate sector in Spain.