Spanish Hotel Rates Soar 13% in 2024 to €120/Night Amid 5% Foreign Booking Boom

Aerial shot of Mallorca’s coastline with hotels and beachgoers enjoying the sun

A 5% increase in overnight stays at hotels in Spain is largely driven by a surge in foreign visitor bookings.

  • 13% Price Increase: Spanish hotels reported a 13% hike in rates, reaching an average of 120 euros per night in 2024.
  • Record Overnight Stays: Overnight stays hit 363.6 million, marking a 4.9% rise year-over-year.
  • Foreign Visitor Growth: International tourists boosted stays by 7.5%, while Spanish residents saw a 0.2% increase.
  • Top Markets: UK and German visitors accounted for over 102.9 million stays combined.
  • Occupancy Rates: Average occupancy rose to 61.4%, with weekend rates hitting 66.7%.
  • Leading Destinations: Mallorca, Barcelona, Madrid, and San Bartolomé de Tirajana remain top spots.
  • Revenue Metrics: Hotel Price Index (HPI) up by 7%; ADR at 121.50 euros; RevPAR at 84.60 euros.

According to data issued by the Spanish National Statistics Institute (INE) on Friday, 24 January, overnight stays in hotels throughout Spain increased by 4.9% in 2024 compared to the previous year, reaching a historic peak of 363.6 million.

Overnight stays by residents of Spain edged up by 0.2% over the past year, hitting a record 241.7 million, while foreign visitors recorded a 7.5% rise, reaching 121.9 million also a new high.

Travelers from the United Kingdom and Germany made up 102.9 million overnight stays in 2024, representing 42.6% of all stays by international tourists. Overnight stays by UK visitors grew by 4.3%, whereas those by German tourists increased by 8.2%.

In 2024, the average occupancy rate of available hotel beds stood at 61.4%, up 2.2% from 2023. Meanwhile, weekend occupancy rose to 66.7%, showing a 1.6% increase.

Mallorca led the way with 49.5 million overnight stays in 2024, followed by Barcelona, Madrid, and San Bartolomé de Tirajana. Adeje registered the highest average occupancy per bed (78.3%) as well as the top weekend occupancy rate (80.3%).

Throughout 2024, the annual rate of the Hotel Price Index (HPI) averaged a 7% increase, 1.6 points lower than in 2023.

The average daily revenue per occupied room (ADR) was 121.50 euros in 2024, and the average daily revenue per available room (RevPAR) stood at 84.60 euros.

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