Investment approach
Barcelona Hotel Market: Occupancy, RevPAR, Room Supply
Per STR and Cushman & Wakefield, Barcelona hotels in H1 2026 had 78.4% occupancy, ADR €195.5 and RevPAR €154.3. What to count, how these measures differ and what is not visible.
The Barcelona hotel market in H1 2026 shows occupancy of 78.4%, an average daily rate for an occupied room (ADR) of €195.5 and revenue per available room (RevPAR) of €154.3. This is how STR and Cushman & Wakefield count it in the Hotel Sector Barometer for January to June 2026 (published 27 July 2026). RevPAR grew 4.4% on the same period of 2025, and ADR 1.8%.
What STR and Cushman & Wakefield show
| Indicator | Barcelona | Madrid | Period |
|---|---|---|---|
| Occupancy | 78.4% | 78.9% | H1 2026 |
| ADR | €195.5 (plus 1.8%) | €181.4 (plus 3.2%) | same |
| RevPAR | €154.3 (plus 4.4%) | €142.1 (plus 5.8%) | same |
Source: Cushman & Wakefield and STR, Hotel Sector Barometer. The sample for Spain is 1,807 hotels and over 247,000 rooms. This is an industry report on part of the market, not the city's full statistics.
ADR (Average Daily Rate), by INE's definition, is the average daily revenue per occupied room. RevPAR (Revenue per Available Room) is calculated per available room, that is, sold and empty alike. Occupancy shows the share of rooms that are occupied. RevPAR is roughly ADR multiplied by occupancy (195.5 × 0.784 gives €153.3, the report says €154.3, and the source does not explain the gap), so its growth can come from price, from occupancy or from both at once.
What the official statistics show
INE publishes the Coyuntura Turística Hotelera (hotel occupancy survey) monthly. In the July 2026 release (21 August 2026), Spain had ADR of €156.9 (plus 6.8% on July 2025) and RevPAR of €119.3 (plus 6.6%) (INE). Barcelona is named there among the three places with the most overnight stays, together with Madrid and Calvià. The press release gives no figures for Barcelona; they are in the appendix to the release, which I did not open. INE's national indicators and STR's city indicators cannot be compared directly: the samples and methodology differ.
Room supply and restrictions
I could not reliably confirm the current number of rooms in the city: the Ajuntament census figures I came across refer to 2024 and did not open in an accessible form. They should be taken from the current report of the Observatori del Turisme and the Ajuntament de Barcelona on the date of the decision.
What is known about restrictions: new hotels in Barcelona are regulated by the PEUAT plan (special urban plan for tourist accommodation). Where a hotel can be opened is covered in the article on PEUAT, and changing a building's use to a hotel in the article on reconversion. These rules limit where new hotels can appear, but they do not determine the occupancy of a specific hotel.
How to turn RevPAR into a project calculation
A worked example, not a forecast. A hotel with 40 rooms, ADR of €200, occupancy of 75%:
- RevPAR: 200 × 0.75 = €150.
- Room revenue for the year: 150 × 40 × 365 = 2.19 M€.
- This is room revenue, not profit. What reaches the owner is what remains after staff costs, utilities, sales, taxes, depreciation and the management company.
To evaluate a hotel project, gross operating profit (GOP) and USALI indicators (the Uniform System of Accounts for the Lodging Industry) are used; they are covered in the article on hotel project indicators. The choice between a management company and own operation is covered here.
Who should not rely on the city's RevPAR
Anyone who values a hotel by the city average. Occupancy and rate depend on category, district, season and sales channels, and an average does not replace them. A rise in RevPAR over a half-year is also not a forecast for the next.
DNPI Capital considers hotel projects from 3 M€; the company has no completed projects in the hotel segment, and this article does not describe anyone's experience. The general approach is described on the hotel projects page. On competing supply, tourist apartments, see the article on licences until 2028.
Questions and answers
What is hotel occupancy in Barcelona?
Per STR and Cushman & Wakefield, 78.4% for January to June 2026. For comparison, in Madrid it is 78.9%.
What is RevPAR in a hotel?
Average daily revenue per available room, that is, sold and empty alike. Per STR in Barcelona for H1 2026 it is €154.3.
What is the average room price in Barcelona?
ADR, that is, average revenue per occupied room, in H1 2026 was €195.5 per STR and Cushman & Wakefield. Prices at specific hotels and on specific dates differ noticeably.
How many hotels are there in Barcelona?
I have not confirmed an exact current figure. It is published by the Ajuntament de Barcelona and the Observatori del Turisme in their reports on hotel supply.