Valencia’s hotel industry is celebrating an exceptional year as foreign tourism drives occupancy rates to historic highs.
According to Hosbec, the hotel industry association, hotels in Valencia, Alicante, and Castellón are expected to close August with an impressive 90% of rooms booked. This surge follows unprecedented levels of foreign tourist arrivals in the first half of 2024, setting a positive tone for the rest of the year.
The rise in tourism comes despite a 10% increase in average room rates, which have reached €130.1 in Valencia and €112.8 in Alicante. These figures were reported by Cushman & Wakefield and reflect the growing demand for quality accommodations in the region.
Surge in Foreign Visitors
The first six months of 2024 saw the Comunitat Valenciana welcoming a record 5.3 million international tourists, a 19.9% increase compared to the same period in 2023. This influx of visitors has generated a historic expenditure of €6.38 billion, marking a 28% year-on-year increase.
The majority of these visitors came from the United Kingdom, with 1.42 million British tourists arriving in the region, an 18.7% rise from 2023. France followed with 823,189 tourists, showing an 18% increase, while the Nordic countries and the Netherlands also contributed significantly with growths of 22.6% and 17.3%, respectively.
Fede Fuster, the president of the Valencian hotel association, expressed optimism about the figures: “The consistent arrival of foreign tourists is stabilizing both the high and mid-seasons. Achieving an 80% occupancy rate in the first half of the year shows how much we are benefiting from our airports and the strategic positioning of our region.”
High Spending and Longer Stays
Valencia’s booming tourism industry is not only about higher visitor numbers; tourists are also spending more and staying longer. From January to June, the average tourist spent €1,212, reflecting a 6.6% increase from the previous year. The average length of stay also increased to 9.3 days, a 4.3% rise compared to 2023, with daily spending growing by 2.3% to €130.
Nuria Montes, the regional minister of Innovation, Industry, Commerce, and Tourism, highlighted the significance of these figures: “The increase in tourist expenditure indicates a qualitative leap in our tourism industry, recovering our competitive edge among Spain’s top tourist destinations. Our success is not just in numbers but in the growing spending power of our international visitors.”
Exceptional Performance in July and August
The upward trend continued into July, with hotel occupancy rates surpassing 80% across Valencia, Alicante, and Castellón. Valencia Province led the way with over 90% occupancy, thanks to popular destinations like Gandia and Valencia city itself, where some hotels reported near full capacity.
Miguel Esparza, the general manager of Urbem, which owns Hotel Primus in Valencia, shared his satisfaction with the summer performance: “In July, we achieved a 98% occupancy rate across our 262 rooms, and we are on track to reach 95% in August.”
In Alicante, beach destinations like Altea, Calpe, and Benidorm also saw high occupancy, with figures ranging from 86% to 91%, driven by a combination of sun-seeking tourists and attendees of major events like the Low Festival. Meanwhile, Castellón Province achieved over 80% occupancy in the latter half of July, with Peñíscola being a top choice for domestic travelers, reaching 87.6% occupancy.
As the region heads into the latter part of the year, Valencian hotels are optimistic about maintaining high occupancy rates. For the first half of August, confirmed bookings already surpass 80% in Alicante and Valencia, with Castellón close behind at 77%, and these figures are expected to rise with last-minute reservations.
The positive trends seen in 2024 highlight the resilience and appeal of the Comunitat Valenciana as a premier destination for international tourists. As the region continues to attract visitors from across the globe, the hospitality industry is well-positioned to sustain its growth and further enhance its reputation on the global stage.
