Madrid’s hotel industry recorded its highest November average daily rate (ADR) and revenue per available room (RevPAR) on record, according to preliminary data from CoStar. CoStar is a leading provider of online real estate marketplaces, information, and analytics in the property markets.

November 2024 (year-over-year % change):

  • Occupancy: 80.2% (+2.8%)
  • ADR: EUR174.44 (+13.7%)
  • RevPAR: EUR139.88 (+16.8%)

In addition to the monthly records in ADR and RevPAR, occupancy was the highest for a November in Madrid since 2019.

Performance gains were attributable to a number of fairs organized by IFEMA Madrid, including Veteco, Matelec, and Construtec. Each of the key performance metrics peaked on the first day of the fairs (Tuesday, 5 November): occupancy (92.7%), ADR (EUR214.90) and RevPAR (EUR199.14). The second highest levels were seen the following night: occupancy (91.9%), ADR (EUR201.58) and RevPAR (EUR185.18).

Daily occupancy levels remained above 70% in all but three days during the month.For more information about the company and its products and services, please visit www.costargroup.com.