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Formula One drove Barcelona hotel RevPAR to all-time highs
12.07.2024 - 16:35 / traveldailynews.com / Theodore Koumelis
The annual Spanish Grand Prix significantly boosted Barcelona’s hotel metrics in June 2024, setting new records for average daily rate (ADR) and revenue per available room (RevPAR).
WASHINGTON – Thanks to a boost from the annual Spanish Grand Prix of Formula One, monthly average daily rate in Barcelona (ADR) and revenue per available room (RevPAR) reached all-time highs, according to preliminary data from CoStar. CoStar is a leading provider of online real estate marketplaces, information, and analytics in the property markets.
The race is one of the oldest in the world still contested, celebrating its centenary in 2013. The event is due to take place at the Circuit de Barcelona-Catalunya until 2026.
June 2024 (year-over-year % change):
The Formula One Grand Prix pushed occupancy to 95.3% on Saturday, 22 June, matching for the monthly high with the night of a Rammstein concert on Tuesday, 11 June. The level on those two nights was the highest in the market since October 2023.
The Grand Prix also pushed ADR and RevPAR to 343.11 euros and 327.04 euros, respectively. That daily ADR level was the highest in the market since February. The next stop on the 2024 F1 calendar will be the Austrian Grand Prix, with the paddock heading straight to the Red Bull Ring in Spielberg for the second race of this triple header.
Theodore is the Co-Founder and Managing Editor of TravelDailyNews Media Network; his responsibilities include business development and planning for TravelDailyNews long-term opportunities.
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