Mallorca hotels enjoying a good 2023

It's been a good summer for Mallorca's hotels. | A. S.

Andrew EdePalma16/09/2023 07:29
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According to the latest accommodation barometer for Spain compiled by Booking.com and Statista, 65% of hoteliers in Mallorca and the Balearics expect that they will achieve record levels of revenue this year.

This survey compares the situation in the Balearics with the rest of Spain, for which there is a similar result, and the EU. In Europe generally, the anticipation of record revenue is 46%.

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The measure for this income is RevPAR, revenue per available room. But this doesn't necessarily mean that the hotels are looking at record profits. Quite the contrary, when they point to a 94% increase in the cost of energy and a 61% rise in the cost of products and services.

With regard to one cost element - labour - 35% of hoteliers in the Balearics and Spain consider this to be a concern, compared with 46% of European hoteliers.

The head of Booking.com for southern Europe, Mireia Prieto, says that Spanish destinations, including the Balearics, are maintaining their attraction ahead of other destinations in Europe and the Mediterranean. The greatest potential, she observes, lies in attracting international investment. Foreign funds are the ones showing the greatest interest in hotel assets in the Balearics, given the high holiday demand and the commitment that tour operators have made to the Balearics.