GuestReady forecasts a remarkably successful summer in 2024 for tourist accommodation bookings across Spain. An impressive 6.3% rise in reservations has already been observed compared to June of the previous year. This significant increase underscores Spain’s tourist rental market’s continual progress and extraordinary vigour.
Leading Cities in Occupancy Rates
Among the cities, Barcelona and Malaga lead with 70% of tourist apartments booked for summer. Valencia follows closely with a 67% reservation rate, while Madrid has a 38% occupancy.
Average Nightly Rates
Malaga emerges as the priciest city, averaging 198 euros per night, peaking at 236 euros in August. Barcelona comes in second at 190 euros per night, Valencia at 168 euros, and Madrid at 118 euros.
Predicted Occupancy Growth
GuestReady forecasts a 12% rise in occupancy for Malaga and Barcelona compared to last summer. Conversely, Valencia has seen a 9% decline in occupancy.
Influence of Cultural Events
Major events in key cities largely drive the surge in tourism. In recent weeks, Madrid achieved 100% occupancy due to the Pokemon GO Fest and Taylor Swift and Bruce Springsteen concerts. Events such as the MadCool Festival and Metallica concerts also boost demand in July.
Likewise, Barcelona’s high occupancy is attributed to the Sónar Festival from June 13 to 16, the Sant Joan festivities, and the Formula 1 Grand Prix from June 21 to 23. Valencia’s Luis Miguel concert on June 27 has led to full bookings. Malaga also shows promising figures, with the Brisa Festival from July 25 to 27 reaching a 78% occupancy rate so far.
Summary
- 6.3% Increase in Reservations: Significant growth compared to last June.
- Top Cities in Occupancy: Barcelona and Malaga, at 70%; Valencia, at 67%; and Madrid, at 38%.
- High Nightly Rates: Malaga at 198 euros, Barcelona at 190 euros, Valencia at 168 euros, Madrid at 118 euros.
- Predicted 12% Occupancy Growth: Expected for Malaga and Barcelona.
- Cultural Events Boost Tourism: Major festivals and concerts leading to high occupancy rates in key cities.
Spain’s tourist accommodation market continues to thrive, driven by a blend of cultural vibrancy and appealing destinations, promising an excellent summer season in 2024.