MKG Exclusive: Madrid Shows Disappointing Results despite a Tourism Trade Show Week

Madrid’s International Trade Fair failed to make the grade, despite strong support from the Spanish Royal Family and a mediatized visit from the heir to the throne HRH Prince Felipe and his wife. Fitur is a meeting point for tourism professionals where they can establish action plans, strategies and business alliances to energize and consolidate the tourism business, innovating to answer the changing demands of the market. It took place from 18 – 22 January 2012 at the Feria de Madrid.

The Prince and Princess of Asturias

According to MKG Hospitality, occupancy rates for a period lasting from 18 January 2012 to 23 January 2012 averaged at 63.5%, which is almost identical to last year’s figure for the same period. This stagnant level of demand was felt in the average daily rate as hoteliers were in fierce competition with each for the same quantity of guests, resulting in 9.3% drop in average daily rates to 104.40 euros (VAT included). Consequently, RevPAR went down by 9.2% to 66.30 euros (VAT included). When looking at the daily split, Wednesday 18 January came in on top with a 91.4% occupancy rate which coincides with the opening ceremony and the visit from the Prince and Princess of Asturias.

At the last edition, organizers felt there was “trend towards recovery in the industry” as they reported 9,506 exhibiting companies (but they had 10,434 the year before) from 166 countries/ regions and 210,877 participants (up from 209,260 the year before). Furthermore, organizers report +4% of foreign visitors compared to 2011.