Our 2015 edition of “The Balearic Islands Hotel Market" closely analysed the hotel market in Majorca, Menorca, Ibiza and Formentera, and was well received across the hotel sector, from hotel owners and operators to national and foreign investors, as well as specialised media.
We have now updated this report, once again analysing the islands to track their evolution in relation to their main performance indicators at the end of 2016. Considering that each island has its own peculiarities, we present an individual analysis on hotel demand and supply, including the profitability of hotels during the 2016 season and comparing them to results from the previous year.
The results of our analysis demonstrate the touristic strength of the islands as shown by the increase in overnight stays to 58 million. Likewise, tourist arrivals increased, reaching more than 15 million (with an accumulated growth since 2011 of 4 to 5%).
Occupancy has also improved over previous years and, in terms of hotel rates, the sector’s behaviour has been different on each island, with Menorca registering the largest increase in hotel prices.
According to the data released from the Tax Agency of the Balearic Islands, the “Ecotasa” has raised €40 million during its first season.
Source : Christie & Co