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Tourism in Spain and Portugal Grows in 2011
2011 was finally successful for hotels in Spain and Portugal. According to the information provided by STR Global hotels in Lisbon, the Canary Islands, and the Balearic Islands showed a double-digit increase in RevPAR in 2011.
The main reason for such success in Spain is the growth of occupancy. Only hotels in two destinations, Zaragoza and Valencia, have shown the decline in the number of tourists. The main gear of RevPAR growth in Portugal is different – here the increase of daily rate helped hotels to achieve higher level of revenue. Only hotels in Porto saw decline in both RevPAR and occupancy levels.
Now experts are interested in further development of Spanish and Portuguese accommodations. According to STR Global, the growth of RevPAR of hotels in Madrid may reach 1.3% in 2012.
In 2011 RevPAR of hotels in Spain grew by 6.8% and estimated €55.49. The increase of the same figure of the Portuguese hotels is even more impressive – 8.8%. The occupancy here reached 60.6%.
Among the best performers in the region are the Canary Islands – the occupancy here increased by 14.4%, hotels in Marbella (+ 13.6%), and Balearic Islands (+ 10.1%). The lack of new opening and, thus, steady supply is also one of the factors of growing RevPAR. The only markets with new openings are Malaga with the growth of supply of 4.4%, Marbella (+ 2.4%), and Madrid (+ 1.5%).
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