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Sporting events elevated Madrid hotel performance in April


Madrid’s hotel sector experienced significant growth in April 2024, driven by the Madrid Open and the UEFA Champions League quarterfinals. Data shows a 6.6% increase in occupancy and a 16.6% rise in average daily rates, leading to a 24.2% jump in revenue per available room (RevPAR).

WASHINGTON – Pushed by the Madrid Open and the UEFA Champions League quarterfinals, Madrid‘s hotel industry posted double-digit performance growth in April, according to preliminary data from CoStar. CoStar is a leading provider of online real estate marketplaces, information, and analytics in the property markets.

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

  • Occupancy: 79.5% (+6.6%)
  • Average daily rate (ADR): 184.20 euros (+16.6%)
  • Revenue per available room (RevPAR): 146.43 euros (+24.2%)

The annual, two-week-long Madrid Open commenced late in the month and pushed Madrid’s daily occupancy to as high as 93.4% (Wednesday, 24 April). The market’s second-highest daily occupancy level was recorded on Tuesday, 9 April (92.9%) – the night of the UEFA quarterfinals match between Real Madrid and Manchester City. Overall, the market’s occupancy came in above the 70.0% mark in all but five days in April.

Madrid’s ADR and RevPAR peaked on Saturday, 20 April, at 229.37 euros and 208.08 euros, respectively.

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Vicky is the co-founder of TravelDailyNews Media Network where she is the Editor-in Chief. She is also responsible for the daily operation and the financial policy. She holds a Bachelor's degree in Tourism Business Administration from the Technical University of Athens and a Master in Business Administration (MBA) from the University of Wales.

She has many years of both academic and industrial experience within the travel industry. She has written/edited numerous articles in various tourism magazines.