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Valencia as the wind in its sails!

Taking advantage of the Americas Cup (preceded by the Coupe Louis Vitton), hoteliers in Valencia significantly increased their room rates. Whence average daily rates that took off in April, May and June (they flirted with +30% at the beginning of the event!). Although the end of the regatta rapidly halted growth of rates, the average daily rate nonetheless grew by 10.5% on 12 cumulated months. Occupancy reached a peak in April with the massive arrival of crews and journalists (the America’s Cup is one of the most watched sports events worldwide), but it was already on a growth trend starting in February. In the long term, it is imaginable that the intense media exposure received by Valencia, the first European city to host the event, will support the increase in the RevPar (+13.6% on 12 sliding months) despite the leveling out of the evolution of average daily rates in the months to come.

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