Madrid Hotels Struggle with 70% Occupancy Despite Formula 1 Weekend and 69.6% ADR Increase to €485
🏁 During the Madrid Formula 1 weekend, hoteliers faced inventory issues despite a 69.6% increase in ADR from €286 to €485. Despite 350,000 spectators, hotel occupancy stalled at 70% due to inventory custody issues. Flight searches surged from the UK, France, South Korea, and Uruguay. Hotels faced problems with room allocations and late release of unsold rooms. Lessons for future events: focus on inventory control alongside demand metrics.
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