Marbella Sets new Hotel Record in 2024

Marbella Achieves New Record in Hotel Profitability in 2024

Marbella has solidified its reputation as a premier tourist destination by setting a new record in hotel profitability in 2024. According to recent reports, this iconic coastal city on the Costa del Sol has experienced unprecedented growth, driven by high occupancy rates, an increase in luxury tourism, and robust demand for exclusive accommodations.

• Occupancy Rates: The city has seen consistently high hotel occupancy, particularly during peak seasons. Marbella’s luxury hotels have reported near full bookings, with many guests extending their stays, thanks to the city’s wide appeal to both international and domestic tourists.
• Average Daily Rate (ADR): The average daily rate for hotel rooms has soared, reflecting Marbella’s draw for high-end visitors seeking top-tier services and accommodations. Many 5-star establishments have introduced new premium services, raising the bar and further driving up room prices.
• RevPAR (Revenue per Available Room): RevPAR, a key industry metric, reached an all-time high in 2024, boosted by the rise in ADR and a surge in exclusive events, luxury real estate developments, and high-profile visitors. The city's hotel sector has capitalized on the demand for quality and unique experiences, from wellness retreats to gourmet dining.
• Luxury Segment Growth: A notable contributor to the profitability spike is the city’s expansion in the luxury hotel sector. Marbella continues to attract affluent clientele, with new investments in ultra-luxury properties catering to discerning tourists.
• Tourism Demand: Marbella's tourism appeal is stronger than ever, with its Mediterranean climate, world-class golf courses, luxury shopping, and cultural heritage drawing millions each year. The influx of international tourists, especially from the U.S., Northern Europe, and the Middle East, has contributed significantly to this year’s record.

The Director General of Tourism, Laura de Arce, has valued that "this destination continues to maintain the formula of quality over quantity", a point on which she has stressed that equally "an increase in travellers is being seen in the four months of the summer season, which now extends from June to September, instead of the traditional massive arrival of tourists in July and August".

The municipal official, who has detailed in a note that national clients have been the protagonists of the longest stays in the city. He has thus emphasised the "strong rise" in the average price of hotel establishments, reaching 331.88 euros, compared to 301.66 euros in 2023 or 224.01 euros in 2019. He has also highlighted the new milestone in income per occupied room, with 289.17 euros, compared to 244.54 euros last year or 197.88 euros in 2019.

"Marbella is consolidating the tourism model to which other destinations aspire," said De Arce, who recalled that "the city knew how to adapt to the new demands after the pandemic with a commitment to excellence, a strategy that continues to yield very good results."

Regarding the nationalities of visitors, he pointed out that in August there was an increase in German, Italian and Swiss tourism, as well as in the number of African countries, "where data from Morocco and the Persian Gulf are mainly reflected", and Russian tourism, "which is once again showing some recovery since 2020". At this point, he alluded to the fact that visitors from the United States, which in recent months had been positioned in third place, only behind the United Kingdom and Spain, "have been overtaken by Italy, a market that registered a strong increase in August".

With Marbella’s commitment to maintaining its status as a high-end destination, 2024 has proven to be a landmark year for the city's hotel industry, setting new standards for profitability and reinforcing its global allure.

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Source: Idealista