Latest / STR Unpacked / Nobody Discounted
Transcript
- Ben: Good morning and welcome to your short term mental bulletin on the 21st of August. So Spain's hotels sold no extra rooms in July, and yet they still made 6.6% more income. So the ING published in July, numbers this morning, that forty four point eight million stays up 0.3%. Flat. Spanish residents booked less down 1.1%. Foreign visitors covered the gap. Up 1.1%. So occupancy came in at around 71.1% of available bets. The rate line is where it matters. So average daily rate of 156.9 euros up 6.8% on the red par, 119.3 up 6.6%. Nobody discounted. In a flat July, Spanish accommodation held its price and took the margin. Which is exactly what AirDNA reported for Europe last week. So Greece tells the same story, but from a different angle. The Bank of Greece published yesterday travel receipts for the first half, 8.8 billion euros, up four 14.8%, arrivals up 15.4%, the strongest half Greece has posted. But look at June. On its own, receipts up just 1.2%, and the growth is front-loaded into spring. The peak is full, and the upside has moved into the shoulder months. The industry's own money agrees. Home2go reported on Wednesday revenue of 160 million, up 72%. Free cash flowing swung from minus 5 million to plus 48. It's a business-to-business arm, and that arm. Grew 250% and now makes up two-thirds of the group. And one for the win column on Monday, Denia approved its final tourist housing ordinance, and it came out looser than the draft. The cap near the beach went from 15% to 25%. Projected neighbourhoods got one per cent allowance backs, three streets in the old town reopened, and that the draft would have cut six hundred and thirty nine licenses to three hundred and forty four. Seven consultation responses changed it. So volume has stopped growing, so rate and shoulder season are the two levers you have left, and the rule book is still negotiable if you turn up for the consultation. This was the week the market stopped rewarding occupancy and started rewarding the nerve. Thank you so much for watching and I'll see you next week.