Elementor #21825

The Balearic Islands are preparing to welcome 11 million hotel guests this season

Calvia and Palma in the top 5 vacation destinations in Spain

Another record year for Balearic tourism. | Majorca Daily Bulletin reporter

The Balearic Islands should lead the recovery of the hotel sector in Spain in 2023 and should attract 10.8 million hotel guests this year, according to the director of CBRE Hotels in Spain and Portugal, Jorge Ruiz, at the meeting organized by CaixaBank and CBRE with businessmen from the hotel sector in Palma.

The meeting, held at CaixaForum, brought together more than 50 businessmen from the sector to analyze the current situation and prospects for 2023.

Ruiz highlighted that, of the total amount of transactions in Spain in 2022, the Balearic Islands represented 27% of transactions, accumulating an investment of more than 800 million; or the fact that, among the Spanish tourist destinations with the highest RevPar (revenue per available room), 40% are located in the Balearic Islands.

In addition, the Balearic Islands is the second autonomous community in Spain that has accumulated
the most overnight stays in 2022
and the municipalities of
Palma and Calvia are among the top five favorite vacation destinations in Spain.

“The Balearic market is very attractive,” said Ruiz. The consulting firm expects that the Balearic Islands will continue to increase their demand in the coming years, given that “they have a higher level of development than other vacation destinations in Spain and will continue to improve their results in the coming years”.
According to CBRE forecasts, the ADR (average daily rate) in Spain will be 110 euros in 2025, while in the Balearic Islands it is expected to be 20% higher, at 132

CaixaBank Research tourism economist Javier Ibáñez de Aldecoa predicted a relatively positive outlook for the tourism industry in 2023, as the sector undertook price increases in 2022 to meet strong demand, allowing it to defend its margins and prepare for increased costs to persist in 2023.

He also added that “tourism demand is resilient and still has
room to grow
compared to 2022″.

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