Madrid and Barcelona are among the top European cities where the profitability of hotels in Spain will increase during 2016 and 2017, according to the report "European Cities Hotel Forecast", which was developed by the company PwC.
This year is expected that revenue per a hotel room (RevPAR) in hotels of Madrid and Barcelona will increase by 5.8% and 3.3%, respectively, and by 3.8% and 5.5% during the next 2017.
The experts predict that this year Madrid will register the fourth increase in Europe, surpassing, thus, Rome, Dublin, Prague and Barcelona, which will occupy the eighth place in the rankings, while in 2017, the positions will change in the opposite direction, and the Catalan capital will be surpassed only by Dublin, Lisbon and Porto.
In addition, the last year for the Spanish capital has already been very successful, with a significant increase in RevPAR index in 2015 by 17.6% to 64 euros; while average daily revenue per hotel room (ADR) increased by 10.4% last year to 93 euros, according to data of the published study.
In 2016 and 2017, moreover, this trend is expected to be continued, mainly due to economic recovery in Spain, large events or new projects in the tourism sector of luxury hotels. Therefore, the experts expect a good year and there are great prospects for buying hotels in Barcelona. The company PwC report also states that "Barcelona has an excellent international tourist positioning and confirms its hegemony as one of the key destinations in the world."
In addition, expectations remain positive for 2016 and 2017 for the whole of Europe, thanks to the advanced economic development of the euro area and increase of flow of tourists due to their preferences of European cities instead of other alternatives in the Middle East and North Africa. It is expected that this trend will continue in the coming years and, thus will stimulate the demand for tourism and hotels in Barcelona.