29 July 2019 – Richard D. K. Turner
According to the Hotel Sector Barometer, Madrid and Barcelona saw RevPAR growth of 15.1% and 12.7%, respectively, in the first half of 2019. The study stems from a partnership between STR, a global benchmarking, analytical and market knowledge provider, and Cushman & Wakefield Spain.Cushman & Wakefield
Continuing a trend that began at the beginning of the year, RevPar in the Canary and Balearic Islands fell by 4% and 3.6%, respectively. Brexit fears and increased competition from countries such as Turkey, Egypt, Tunisia and Israel have weighed on demand.
The average daily rate per occupied room rose by 2.8% in Marbella, 6.5% in Barcelona and by 13.2% in Madrid. Malaga, Seville and Valencia also posted ADR growth above 5%, while the ADR fell by almost 2% in the Balearic and Canary Islands. ADR grew by 5.3% for Spain as a whole.
Original Story: Hosteltur