Aligned with historical trends for the market, Madrid’s hotel industry reported higher performance from the month prior, according to
preliminary February 2023 data from STR.
- Occupancy: 64.5%
- Average daily rate (ADR): EUR127.89
- Revenue per available room (RevPAR): EUR82.50
The market’s ADR and RevPAR levels surpassed the 2019 comparables, +26.0% and +10.2%, respectively, while occupancy remained lower than the pre-pandemic comparable (-12.5%). Daily data shows Wednesday, 22 February (81.7%) and Saturday, 25 February (85.4%) as the only two days of the month with occupancy above the 80% mark, helped by ARCO Madrid (held 22-25 February). The rest of the month saw daily occupancy above 50%, with only two days falling below that levels.
