Tag: Hotel Price Index

INE: Overnight Hotel Stays Reached 46.4M In August

26 September 2016 – Expansión

Overnight stays rose by 3.8% and revenues increased by almost 9% in August 2016, boosted by visits from overseas tourists. Nevertheless, domestic demand only increased in Cataluña.

Although the summer season does not officially end until October, Spain’s hotels can already say with some satisfaction that the summer of 2016 has been one of the best of their lives. The average occupancy rate reached 79% in August, the best figure since analysis of this data first began back in 1999, according to a report published on Friday by the National Institute of Statistics (INE).

In the eighth month of the year alone, 46.4 million overnight hotels stays were recorded, up by 3.8% compared with August last year, thanks to a 6.3% increase in stays by foreign tourists; overnight stays by Spanish tourists decreased by 0.3% YoY.

But it was not only a quantitative increase, given that establishments also increased their revenues. They obtained €79.57 for each available room, compared with €73.10 in August 2015. The Hotel Price Index (IPH) carried a lot of weight in that YoY increase of 8.8%. The IPH is prepared on the basis of prices that businessmen in the sector receive from all of their clients: households, companies, tour operators and travel agents. The IPH stood at 6.9% in August, which represents 1.9 points more than a year ago.

Over the last twelve months, revenues have increased by 5.2% on average, with the most acute increases being observed for three-star (9.01% YoY in August) and four-star accommodation (6.97%).

INE’s information reveals that overnight stays in July and August grew by 5.4% compared with the same two month period in 2015, thanks both to record levels of international tourists (9.6 million visited in July, up by 9.3%) as well as the gradual recovery of domestic demand. In this aggregated period, overnight stays by foreigners and Spaniards rose by 7.2% and 2.4%, respectively (…).

Original story: Expansión (by Yago González)

Translation: Carmel Drake

Madrid Leads The Rise Of Hotel Prices In Spain

3 September 2015 – Expansión

The capital has reached an average of 94 euros per night, 12% more than in 2014, according to the latest Hotel Price Index by Hoteles.com.

Madrid recorded the largest increase of hotel prices in Spain in the first half of 2015. This is the main conclusion of the latest Hotel Price Index by Hoteles.com, which states that the capital has reached an average of 94 euros per night, 12% more than in 2014. Madrid has been driven by domestic tourism and has exceeded in growth other destinations, such as Canary Islands and Balearic Islands.

Second is Torremolinos, with growth of 10%. The city in the province of Malaga has increased its price to 90 euros on average per room per night.

Although Barcelona managed to consolidate its position among the destinations where Spanish travelers paid most, with an average of 124 euros a night per room, it only grew by 2% in this period. The Balearic Islands have maintained their trend. Ibiza scored an increase of 6%, up to 169 euros on average, and Mallorca has remained with 131 euros on average.

Worldwide

At the global level, according to the Index, hotel prices paid by travelers from around the world have increased by 1% in this semester compared to last year.

There are even three regions where the costs exceeded their levels prior to the crisis and have established a new spending record: North America, Caribbean and Latin America. The increase in number of passengers, greater tourist spending in key areas and currency fluctuations have contributed to this data.

Original story: Expansión

Translation: Lee La