Hotel Tourism Situation March 24 vs March 23
Overnight stays in hotel establishments in Spain increased by 19.1% in March compared to the same month in 2023, signalling a robust recovery and growth in the tourism sector. Accompanying this surge in stays, the Hotel Price Index also saw a significant rise, increasing by 10.0% on an annual basis. This increase reflects the growing demand and tourists’ willingness to spend more on accommodation. Moreover, hotels invoiced an average of 109.2 euros per occupied room, which is 9.7% higher than in March of the previous year, indicating not only higher room rates but also improved profitability for hotel operators.
This positive trend in the hospitality industry is likely driven by several factors including a rebound in international travel, with tourists returning in large numbers following the easing of travel restrictions, and the attractiveness of Spain as a holiday destination due to its diverse cultural offerings and pleasant climate. Additionally, domestic tourism has also contributed significantly to these figures as residents choose to travel within the country.
The rise in the Hotel Price Index and average room rates can also be attributed to hotels enhancing their services and facilities, aiming to attract a higher-spending clientele. Many establishments have invested in upgrades and renovations to meet the increasing expectations of guests, including the implementation of sustainable and technologically advanced solutions that appeal to modern travellers.
Looking ahead, the continued growth in overnight stays and revenue per room suggests a robust outlook for Spain’s hotel industry. As the sector adapts to new travel behaviours and preferences, ongoing investments in marketing and improvements in customer service could further drive growth. Hoteliers and stakeholders in the tourism industry should therefore remain optimistic but vigilant, ready to adapt strategies to capitalise on evolving market conditions and sustain this upward momentum.