30 September 2019 – Christie & Co has just published a new report, titled “Spanish Hotel Market: Urban Destinations.” The report analyses 14 Spanish city destinations, including Barcelona, San Sebastián, Palma, Málaga, Cádiz, Madrid, Seville, Bilbao, Valencia, Granada, Córdoba, Santander, Alicante and Santiago de Compostela, which the report’s authors selected according to their volume of demand, supply and profitability of the hotel sector.
The 14 cities had a total of 74.3 million overnight stays last year, 21.9% of the total overnight stays in Spain. The cities also registered a 2.9% growth in demand, even as the total number of overnight stays in Spain remained stable (-0.1%).
According to the report, Barcelona continued to have the highest RevPAR (€98.90), despite a year-on-year fall of 2.6%. San Sebastián (€97.20) and Palma (€84.90) were in second and third place, respectively. On the other hand, Seville, Bilbao and Valencia experienced the greatest growth in RevPAR, with increases of +7.2%, +12.2% and +12.1%, respectively. Madrid, after growth of +14.5% in RevPar in 2017, increased by just 1.6% in 2018, reaching €73.50.
Despite registering declines of -2.9% and -3.0%, Santander and Alicante positioned themselves as the tenth and eleventh city in terms of RevPAR, ahead of Córdoba. That city was able to increase its RevPar by +3.4%, despite a fall in the number of overnight stays of 3.1%. Santiago de Compostela had the lowest RevPAR levels (€37.80) of the fourteen selected cities.
Original Story: Christie & Co press release
Adaptation/Translation: Richard D. K. Turner