Madrid Hotel Industry Reports Higher Performance for February
Aligned with historical trends for the market, Madrid’s hotel industry reported higher performance from the month prior, according to preliminary February 2023 data from STR.
- Occupancy: 64.5%
- Average daily rate (ADR): EUR127.89
- Revenue per available room (RevPAR): EUR82.50
The market’s ADR and RevPAR levels surpassed the 2019 comparables, +26.0% and +10.2%, respectively, while occupancy remained lower than the pre-pandemic comparable (-12.5%).
Daily data shows Wednesday, 22 February (81.7%) and Saturday, 25 February (85.4%) as the only two days of the month with occupancy above the 80% mark, helped by ARCO Madrid (held 22-25 February). The rest of the month saw daily occupancy above 50%, with only two days falling below that levels.
STR provides clients from multiple market sectors with premium, global data benchmarking, analytics and marketplace insights. Founded in 1985, STR maintains a presence in 10 countries around the world with a corporate North American headquarters in Hendersonville, Tennessee, and an international headquarters in London, England. For more information, please visit str.com.