STR: Madrid hotel industry reported higher performance in 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.

More of STR’s analysis can be found here.