Hotel business reaches historic levels

Overnight stays in the ARM grew 5.1% in the year’s first eight months.

The Madeiran hotel business keeps improving and has reached new historic levels. Regarding the total number of overnight stays in the Autonomous Region of Madeira (ARM), the figure for august 2015 was 765.2 thousand stays similarly to what happens with the total profits, of 37.2 million euros, and with rooms, 24.5 million.

Estimates, in the same month, indicate a growth of 1.1% in overnight stays, 4.4% in total profits and 6.2% in room profits when compared to the same period of the past year.

Despite the figures for the national and French markets having fallen, 16.8% and 1.7%, respectively; the British and German markets revealed positive variations of 8.7% and 7.9%, respectively, when compared with the same month in 2014.

One can thus conclude that in these first eight months, overnight stays in the ARM have grown 5.1% while the total and room profits have respectively grown to 8.4% and 10.6%.

The net occupancy rate of bed places settled at 83.6%, 2.4% higher than in the previous year.

Regarding the revenue per available room (RevPAR), there was a 7% growth to 56.33€, a record high.