- RIU, Sercotel and Hesperia have forecast solid revenue increases.
- Revenue growth has been driven by tariff improvements.
- Occupancy has stabilised or softened in some destinations.
- Average daily rates have climbed 5.9pc for 61 consecutive months.
- Labour costs and inflation have driven price increases.
RIU, Sercotel and Hesperia have also forecast solid revenue increases driven mainly by tariff improvements as demand remains resilient but occupancy stabilises or softens in some destinations. The three hotel groups have performed steadily during the peak summer season. Higher travel demand and rising operational costs have driven price increases across the hospitality industry.
The revenue increases have reflected the wider trend in the Spanish hotel sector where average daily rates have climbed 5.9pc and have now increased for 61 consecutive months. The Hotel Price Index has jumped 5.9pc year-over-year and the average daily revenue per occupied room has surged nearly 6.8pc, hitting an average of €156.92.
The companies have faced the same domestic business pressures as other Spanish hoteliers including surging labour costs, persistent food and energy inflation, and fewer new builds which have kept the overall room supply tightly controlled. Investment has shifted away from building massive new hotels and toward remodeling existing spaces.
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