Spanish capital continues it climbing in terms of RevPAR, which is at €63.3, getting closer to the pre-crisis levels (although far below the €95.9 recorded in Barcelona). Besides, Madrid was the first destination for hotel investment in Spain, in 2016, ahead of Canaries and Barcelona, which reflects the huge interest of investors in view of the excellent expectations regarding the tourism growth in the city.
On its part, Barcelona continues to register an enviable trajectory in respect with the demand, RevPAR, occupancy and ADR, while it’s likely that the operating results of the city are affected by the recent terrorist attack and even by the escalating social tension as a result of the calling for the referendum of independence from Catalonia, mentions the consultant Irea. However, the intrinsic fortress of the market and the context of non-growth of the supply by the entry into force, in January 2017, of PEUAT (Special Tourist Accommodation Plan), which has put into practice the moratorium imposed since 2015, results in an ongoing positive perspective of a medium-term view of the city, at the operational level. Regarding the investment, the moratorium continues to have impact for Barcelona, having relegating to the Catalan capital the third position of world ranking as destination of hotel investment, followed by Madrid and Canaries.