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Hotel reception in Bilbao. A. Gorriz
Foreign tourist boom causes hotel prices to soar in Spain
Tourism

Foreign tourist boom causes hotel prices to soar in Spain

Hotels are 35% more expensive than they were in 2019, and the resort of Marbella on the Costa del Sol recorded the highest average room rate in May at a whopping 210 euros

Edurne Martínez

Madrid

Tuesday, 25 June 2024, 15:58

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A tourism boom is driving up hotel prices in Spain, with some organisations revising upwards their GDP growth forecasts for this year 2.5% more than the Eurozone average, new data shows.

Hotel overnight stays in Spain soared by 11% in May to over 35.7 million, according to latest figures from the INE national statistics institute (INE). Hotel stays by domestic visitors increased by 8%, but bookings by foreigners stood out with an increase of 12.3%, compared to a year ago.

However, the higher the demand, the higher the rates. INE data shows the hotel price index rose by 8% in May. The biggest rise was recorded in Madrid, where prices soared by 17% compared to a year ago. The average room rate (ADR) was 111.70 euros in May, 9% more than in the same month last year. This price is already 35% higher than the 83.50 euros an average hotel room cost in May 2019, the record year for tourism before the worldwide Covid-19 pandemic broke out.

Marbella, 210 euros per night

Five-star hotels recorded an ADR of 274 euros, 10% more than a year ago. Four-star hotels registered an ADR of 114 euros (8%) and three-star hotels 85.40 euros (6.4%). But the hotel category with the highest increase in turnover was the two-star hotels, whose ADR was 82 euros, 13% more than a year ago. Marbella on the Costa del Sol recorded the highest ADR, with an average of 209.70 euros in May.

Although German and French visitor numbers have remained stable compared to previous years, American visitors have increased their visits to Spain, according to the figures. Americans accounted for 1.25 million overnight hotel stays in May, compared to less than one million last year and around 700,000 at this time of year before the pandemic.

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