Hotels in Ibiza and Formentera earned 103.5€ per available room in September, 216% more than in 2020, when they only collected 32.7€ per stay. This is good news for the sector, as in addition to recovering the ground lost due to the pandemic, the figures almost equal the 2019 records, which amounted to 104.6€. They are the fifth highest income figures in the history of the Pitiusas for that month (records go back to 2017, at almost 111€).
This was also the case in August, which saw the highest average daily rate (ADR) for these two islands since records have been kept, at 153.3€, 45% more than a year ago (105.7€), and 30€ higher than that of 2019. Until now the highest rate was that of 2017 (126.4€).
How have so many records been broken for Ibiza hotels during a season in which, for the second consecutive year, fewer tourists than usual arrived? Since not all hotels were open (only 70%), the supply of beds (much lower than usual) outstripped demand (as in the end more travellers arrived than expected). Business owners, realising that they had the upper hand, seized the opportunity and raised prices.
Juicy revenues for Ibiza hotels
This phenomenon was seen across all types of accommodation, regardless of category. Five star hotels charged an average of 362€ per night, 116€ more than in 2019 (there was no data for 2020), which is 47.5% (more than double) more than what was paid then, and close to the all-time record (384€ in 2016). The revenue per available room in such luxury accommodation (those that were open, of course) was also correspondingly juicy: 220€, 27€ more than two seasons ago.
Four-star hotels have never been priced so high at this time: 141€, 19€ more (almost 15%) than in 2020, and 4€ more than in 2019
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