Catalan independence referendum brings down hotels in BarcelonaStaff Writer | October 31, 2017
Preliminary data from STR shows that hotels in Barcelona, Spain, experienced substantial performance declines following the 1 October Catalan Independence Referendum.
Hospitality Occupancy levels dropped
Prior to October, the market’s hotel performance was strong despite the 18 August terror attack and ongoing protests leading up to the referendum.
Barcelona posted its highest ever RevPAR level for both the month of August (EUR146.11) and September (EUR140.75), experiencing double-digit increases compared with the same two months in 2016.
Occupancy levels dropped for six of the seven days after the 18 August attack, but quickly recovered beginning on 26 August.
STR analysts noted that August hotel performance was lifted substantially by the ESC Congress (26-30 August), the world’s largest cardiovascular congress, which typically hosts around 30,000 attendees.
The Sants-Montjuic submarket, which houses many hotels near the host exhibition center, posted a 17.6% increase in ADR during the 1 August to 16 October period, and was the only submarket in Barcelona to record an increase in occupancy (+0.4%) for that date range. ■