HOTELS in Costa del Sol’s Torremolinos in Spain improved their profitability during the last summer season by more than 11.59% from 2018 and 30.57% from 2015.
Figures released by the Price and Hotel Profitability Index of the Institute of Statistics and Cartography of Andalucia also revealed that tourists spent a daily average of €123.51 in July in tourist establishments. This was an increase of €12.83 from the previous year.
The Index also examined the average daily rate (ADR) per night spent in a hotel room that same month which during the 2019 season was €123.51, a significant increase from €94.59 in 2015.
This increase has been progressive over the years, where in 2016 it was €97.73, €107.12 in 2017 and €110.68 in 2018. The constant increase in profitability supports the efforts made by businesses in Torremolinos to modernise and reform their hotels.
Furthermore, according to data from the National Statistics Institute (INE), the number of hotels which opened in July 2019 was 72 where there were 10,193 available hotel rooms and a creation of more than 3,236 jobs.