(English) The insolent growth of Valencia’s hotel sector

Disculpa, pero esta entrada está disponible sólo en inglés estadounidense. For the sake of viewer convenience, the content is shown below in the alternative language. You may click the link to switch the active language.

The hotel sector in Valencia is in good health and finishes the year with interesting figures:  the various establishments (8 263 rooms in total) have increased their incomes by 10% since the beginning of the year and obtained an average occupation of 80%, according to a recent report by real estate consultant, Cushman & Wakefield.

This is explained by the constant influx of tourists, but also by the increase in congress and business tourism. The report reveals that Valencia is in third position in terms of occupancy rate, behind Málaga with 84% of rooms occupied and Barcelona with an occupancy rate of 81.5%.

But the study is already predicting a decline in occupancy rates in Barcelona during the last quarter of the year due to recent disturbances after the Supreme Court judgment. Hotels in Valencia expect that some of the tourists who were due to  go to Barcelona will now choose the third largest city in Spain.

Regarding the average price of rooms, it is interesting to note that  in Valencia city it is at 90 euros  against 215 euros in Marbella, 150 euros in Barcelona and 117 euros in Madrid. Valencia thus, seriously consolidates its place as a leading  tourist city with a notable high increase of tourists coming from abroad, imposing itself with Sevilla, as the urban destinations with the strongest tourist growth of Spain.

In this context, it is not surprising that the number of new hotel projects are significant with 14 buildings under construction for a total of 616 new rooms. This growth, which has been going on for several years, contrasts with a certain slowdown observed elsewhere in certain sectors of the Spanish economy.