In February 2024

Total and accommodation revenue in the tourist accommodation sector of the Region grew by over 10% compared to the same period last year

[NOTE: Regarding the monthly release for the reference year of 2024, the Regional Directorate of Statistics of Madeira maintains the model from the previous year, releasing an aggregate that includes hotels, rural tourism, and all local accommodation, regardless of the number of beds. Meanwhile, Statistics Portugal (INE), in its release, excludes local accommodation with fewer than 10 beds, so in this press release, "In Focus," and in the tables published by DREM, a total higher than that of INE is mentioned in terms of guests and overnight stays. For variables such as occupancy rates, rooms, revenue, and personnel costs, the values coincide with those of INE because their calculation excludes local accommodation below 10 beds.]

In February 2024, the tourist accommodation sector in the Autonomous Region of Madeira recorded 147.1 thousand guests, with overnight stays surpassing 784.8 thousand, representing positive changes of 5.1% and 8.6%, respectively. The hotel sector accounted for 71.7% of overnight stays in February 2024 (563.1 thousand), growing by 4.7% compared to the previous year, while local accommodation (25.9% of the total) and rural tourism (2.3% of the total) increased by 21.9% and 2.1%, respectively.

For comparability with data released by Statistics Portugal, it is necessary to exclude local accommodation with fewer than 10 beds. According to this method, overnight stays in tourist accommodation saw a growth of 4.9% compared to February 2023, a trend similar to the country’s (+6.4%).

The bed occupancy rate in tourist accommodation in the reference month was 60.0%, 1.0 percentage point above the same month of the previous year (59.0%). Meanwhile, the room occupancy rate reached 68.4% (compared to 69.7% in February 2023). It is important to note that these results may have been slightly influenced by the calendar effect in 2024, which had one extra day in February compared to the previous year.

In February 2024, the average length of stay in tourist accommodation increased compared to the same month the previous year (4.60 nights), reaching 4.82 nights.

In the first two months of 2024, the overnight stays in total tourist accommodation in the Region increased by 4.2% compared to the same period last year, approaching 1.5 million, while guest arrivals increased by 1.5%.

Considering overnight stays, the top 10 source markets represented 81.5% of the total in February 2024. Notably, the United Kingdom (+8.5% compared to February 2023), Germany (+5.3%), and Portugal (+1.3%) showed significant positive changes. Additionally, Poland arose as an emerging market (+25.3%), surpassing the French market in terms of its share of total overnight stays.

Year-to-date (January to February 2024), the two main source markets also showed year-on-year growth in overnight stays, with the British market exhibiting the most significant increase at +6.1%. Conversely, the market of residents in Portugal (the third main market) showed a negative change of 5.9% for the same period.

In February 2024, total revenue and revenue from accommodation recorded year-on-year growth rates of 11.0% and 10.1%, respectively, reaching 41.9 and 29.1 million euros. Similarly, in the country, year-on-year changes were positive in total revenue (+13.0%) and revenue from accommodation (+13.1%). Year-to-date, the changes in the Region were 9.4% and 8.8%, respectively.

In February 2024, RevPAR (revenue per available room) was approximately 58.52 euros in total tourist accommodation (excluding local accommodation below 10 beds), representing a 3.0% increase compared to the same month of the previous year. Additionally, the average daily rate (ADR) in tourist accommodation increased from 81.49 euros in February 2023 to 85.59 euros in February 2024 (+5.0% year-on-year change).

From January to February 2024, RevPAR was 54.38 euros in total tourist accommodation (excluding local accommodation below 10 beds), representing a 4.6% increase compared to the same period last year, and 58.08 euros in the hotel sector (+4.6%). In terms of ADR, the values were higher, totalling 85.92 euros in total tourist accommodation (+7.6% year-on-year) and 88.29 euros in hotels (+7.4%).

For more information, please access:

• In Focus (Portuguese only)
• Publications

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