With less than two days to go before the start of the NATO summit in Madrid – which will take place on 29 and 30 June at the Ifema exhibition centre – we already have the first estimates of its economic impact on the Spanish capital.
It is worth noting that this is not just any NATO summit. On the one hand, it commemorates the 40th anniversary of Spain’s accession to the Atlantic Alliance and, on the other, it is tragically the first summit to be held after Russia’s invasion of Ukraine.
Madrid, in the spotlight for tourism this summer.
It is true that this summit has displaced the usual tourists who, given the lack of hotel places, traffic cuts and security shielding, have preferred other destinations during these dates.
On the positive side, Madrid will attract the international media spotlight, with around 1,000 journalists expected to cover the event. This will be an important letter of introduction for the Spanish capital to international tourism just as the summer season gets underway.
Municipal sources have pointed out that the capital is getting closer and closer to the levels of tourism recorded before the pandemic. In April 2022, the occupancy rate per seat was 61 per cent, almost the same as in April 2019 (65 per cent).
The NATO Summit will contribute to almost full occupancy of hotel beds in the capital city
The expected occupancy rate for the whole week is around 70 per cent, and up to 75 per cent on the key days of the summit. But if we add to this the other events in the capital, including festivals and musical cycles such as the Festival Río Babel and the Botanical Nights, Madrid will hang the “no vacancy” sign.
This week delegations from more than 40 countries are arriving in Madrid. More than 5,000 people will invade a city that has been preparing for days to host one of the most crucial meetings in the history of the Atlantic Alliance.
AEHM estimates that four and five star hotels, as well as those located around the Castellana, María de Molina and Ifema, will bear the brunt of the increase in demand.
They confirm that the suites of luxury hotels such as the Meliá Serrano, the Rosewood Villa Magna, the Four Seasons, the Intercontinental, the Ritz, the Palace and the Hotel Único have been preparing their facilities for days to accommodate the huge number of guests at the summit.
The hotel and catering industry, the second sector to benefit from the summit.
The hotel and catering sector in the capital estimates that the international summit will generate an income of half a million euros for local restaurants.
In addition, an increase in consumption is expected, which will be felt especially by mid-range and high-end restaurants, with an average spend of 50 euros per diner.
The NATO summit is a great opportunity for Le Room Service and we are ready to continue offering the best Food & Beverage service to all the hotels hosting these illustrious visitors.
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