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Hotel Revenues Fell by 41% in March
23 April 2020 – Brainsre.news
Hotel occupancy rates fell by more than 45% in March, after just 15 days of confinement, and the average revenue per room decreased by 41%.
On Thursday, Spain’s National Institute of Statistics (INE) published the first official figures showing the impact of the coronavirus on the Spanish tourism market. According to this data, in the month of March alone, with lockdown measures decreed on the 14th of the month following the State of Emergency, hotels in Spain saw a 41% decrease in their revenues, whilst occupancy rates fell by more than 45%.
In March, the average daily revenue per available room (RevPAR) -which is determined by the occupancy rates recorded in hotel establishments- stood at €29.7, down by 41% compared to the same period in 2019. The average daily rate for each occupied hotel room (ADR) was €78 in March, which represents a decrease of 4.2% compared to the same month of 2019.
Original Story: Brainsre.news
Translation/Summary: Carmel Drake