Hotel prices in Spain rose by 8.1 % in May and resumed their upward trend, more than double the 3.6 % increase in general inflation, after showing some containment in April. The price rises are occurring with demand soaring, as overnight stays in hotels exceeded 35.7 million in May, the best figure ever for a month of May.
According to figures published today (Monday) by the National Statistics Institute (INE), hotel prices have shown very significant rises since June 2021, after the pandemic, and reached peaks of close to 30% in April 2022, although last April they had recorded the lowest rise in this period, of 4%.
Price rises soared in the Community of Madrid, with an increase of 17.1%; in the Basque Country (14%) and in the Community of Valencia (10.6%).
In addition to the Levante region, among the most popular holiday destinations, prices rose in Andalusia (8.3 %), in the Balearics (7.7 %), in Catalonia (5.7 %) and in the Canary Islands (5 %).
They were more moderate, and below the national average, in Navarre (2.8 %), Extremadura (2.9 %), La Rioja (3.1 %) and Asturias (4.4 %). By category, prices rose most in one-star hostels (10 %) and in five- and two-star hotels (more than 9 % in both cases), and were more moderate than average in two- and three-star hostels (4.8 %) and in four-star hotels (7.5 %).
The average rate per occupied room (ADR) reached 111.6 euros, an increase of 9.2 %, and the average rate per available room (RevPAR, linked to occupancy and which better approximates the profitability of the sector) stood at 78.7 euros, 15.6 % more than a year earlier. The RevPAR rose to 119 euros in Madrid (25.7% more); and also rose above the national average in Aragon, Asturias, Cantabria, Castilla-La Mancha, Valencia, Galicia and Murcia. It only fell in Ceuta (almost 10 %) and La Rioja (1.3 %).
Nights spent in hotels rose by 11.1 % over the same month in 2023, to 35.7 million, a new record for that month, with a greater increase among non-residents (which grew by 12.3 %) than among nationals (a rise of 8.1 %). During the first five months of 2024, overnight stays increased by 8.2 % compared to the same period of the previous year, with increases of 12.2 % among non-residents and 1.1 % among residents.
Andalusia, Catalonia and the Region of Valencia were the main destinations for resident travellers in Spain in May, with almost 50% between them. Meanwhile, non-residents chose above all the Balearics, Catalonia and the Canary Islands, with almost 70% of the total. By tourist destinations, Mallorca recorded the highest number of overnight stays, with more than 6.3 million. The tourist spots with the highest number of hotel nights registered were Barcelona, Madrid and Calvia in Mallorca. Travellers from the United Kingdom and Germany accounted for more than 45% of the total number of overnight stays by non-residents in May.