Saturday, January 23, 2021
Home Market Hotel Occupan...

Hotel Occupancy Rates Plummet by 83% in October

The low occupancy rates have led to a decrease in prices, which are down by 15.3% compared to October 2019, according to data from INE.

The blow to tourism caused by the coronavirus crisis is being clearly reflected in the statistics. Overnight stays in hotel establishments decreased by 83.3% in October compared to the same month in 2019, as did the rest of the sector indicators, according to data about the Hotel Tourism Situation in October, prepared by the National Institute of Statistics (INE).

Specifically, overnight hotel stays fell from 30.3 million in October 2019 to 5.08 million in October 2020, to record eight consecutive months of decreases, four of which with saw reductions of 83% or more.

Read the full article in Spanish.

B-Exclusives

Which Are the Areas of Madrid Where Homes Are Sold or Rented the Quickest?

The health crisis is taking its toll on the time it takes to sell or rent a home in the Spanish capital, although some areas are resisting better than others, according to Brainsre.

Rental Properties No Longer “Fly Off the Shelf” in Barcelona as the Time it Takes to Find a Tenant Increases

It now takes 2.2 months on average to rent out an apartment in Barcelona, up from 1.5 months, according to Brainsre, however, the city still has one of the most liquid rental markets in the country.

Special B-Exclusives: How Many Square Metres Did Spaniards Spend the Lockdown in?

Every household in Spain has an average of 42.75 square metres for each inhabitant, with 2.51 people in each home. Ceuta, Melilla, Guipúzcoa and Madrid are the areas with the least space.

The Retail Crisis of 2008 Lasted 5 Years As Store Prices Fell by 33%: How Much Could They Fall During this New Crisis?

The Covid-19 crisis has come at a time when the prices of commercial premises have not yet recovered from the previous recession, the consequences of which lasted for five years.

Latest news

The Government Extends the Vetos on Evictions

The Executive is modifying two of the six assumptions included in the decree approved in December to suspend evictions until the end of the State of Emergency in favour of squatters.

BBVA Sells a €700 Million Portfolio of Loans and Assets from Unnim to KKR

The entity has sold a portfolio of loans and toxic real estate assets from Unnim, with a gross value of 700 million euros, to the fund KKR.

Tectum Launches a Second Fund for Affordable Rental Properties in Madrid

Together with Locare, the property developer has raised a new fund amounting to 240 million euros to purchase land and construct more than 1,000 rental homes in the region.

Madrid Will Include Thousands of Empty Flats in the EMVS’s Supply of Properties for Rent

Madrid City Council is launching a plan for all owners of empty homes to transfer their properties to the EMVS in exchange for rental income.