Because of soaring inflation, Spanish hotels are generating more profit than in 2019, despite having fewer tourists on their grounds.
Official figures reveal that prices in Spanish hotels jumped by 36% year on year in April, charging an average of 96.3 euros ($103.4) per night over the Easter holidays, signaling a long-awaited comeback in tourism following the COVID-19 epidemic.
The average rate was also 15% higher than in April 2019, before the epidemic struck in early 2020, effectively halting worldwide travel and forcing the few hotels that remained open to drastically reduce their prices.
According to the National Statistics Institute, rooms in five-star hotels cost 23 percent more than a year ago, average 226.5 euros per night. Staying in lower, two-star hotels was now 40% more expensive, with prices starting at 66 euros.
Hoteliers have been able to modify their prices and cover inflation and energy price hikes due to an increase in numbers of international tourists, mostly from the United Kingdom and Germany, as European governments loosened or eliminated travel restrictions.
In March and April of this year, the number of clients staying in Spanish hotels increased more than fivefold over the previous year, with 40% of them being Spanish citizens, according to INE.
As per official estimates, tourist arrivals in April were 86 percent of pre-epidemic 2019 levels, with several popular islands hosting the same number of visitors as before the pandemic.
Melia, a Spanish hotel giant, announced last week that its room prices increased by 18 percent globally for the Easter week. The Mallorca-based company anticipates higher revenues at its resort hotels in 2022 than in 2019.