Hotels, market data - Figures third quarter 2024 Iberia

In the third quarter of 2024, the hotel sector in Spain and Portugal has shown significant growth. In Spain, the average daily rate reached €119.69, with an annual increase of 8%, while revenue per available room was €84.28, increasing by 11% compared to the previous year. Hotel occupancy stood at 70%, with 14,979 establishments open and 1,640,000 beds available. Prime yields in Madrid and Barcelona stood at 5.25% at the end of September, and on the Spanish islands at 6.25%.

In Portugal, ADR was €124.2, up 7% year-on-year, and RevPAR reached €74.2, also up 7%. Hotel occupancy remained at 59.7%, with 8,197 establishments open and 491,700 beds available. Prime yields in Lisbon stood at 5.50% and in Porto at 5.75%.

In Iberia as a whole, hotel investment reached €2,041 million from January to September 2024, representing 15% of the total volume in Europe. Spain absorbed 84% of this investment, while Portugal accounted for 16%. Most of the transactions took place in the urban segment, with Barcelona being the main investment destination.

These data reflect a positive trend and strong investment interest in the region's hotel sector, consolidating Iberia as an attractive destination for both urban and holiday tourism.