Hotel rates in Medellín are up 10% during the Medellín Flower Fair, one of Colombia's most important cultural events that will also attract international travelers from key markets for both destinations, such as the United States and Spain, according to data from Mabrian, the global tourism intelligence platform part of The Data Appeal Company.
The Flower Fair highlights the important role that this country plays in the global flower market. Colombia is the second largest exporter of flowers in the world - after Holland - and the department of Antioquia, whose capital is Medellín, contributes 40% of the national production. The cultural activities, contests and parades of the famous silleteros, floral artisans who reflect the history and tradition linked to flower production, attract 50 thousand visitors, with an economic impact of 30 million dollars, according to official data.
To understand the scope of this event and how it affects tourism, Mabrian, the global data intelligence platform, anticipates the impact of the accommodation market, focusing on international source markets.
A tourist attraction with a strong online footprint
As Mabrian's data points out, for three out of ten travelers, cultural activities were the main motivation to visit Colombia during the dates when Medellín hosted the Flower Fair in 2023. In addition, and during the ten days of celebration, this festival was the tourist attraction that generated the greatest interest among travelers who visited Colombia, which demonstrates its potential as a driver of demand for the region and for the entire country.
In addition to the large influx of Colombian travelers that the Flower Fair will attract, Mabrian predicts that the event will also attract travelers from the United States, Spain, Panama and France.
“The cultural value of this event is an attraction that Medellín and Colombia can take advantage of to complement the motivations of travelers who visit the country during July and August, contributing to tourist spending,” explains Carlos Cendra, partner and director of Marketing and Communications at Mabrian.
Mid-range and tourist rental categories are the most benefited
On the other hand, multi-day events also contribute to boosting demand for accommodation, as shown by Mabrian's data. Last year, hotel rates available for stays during the ten days of this cultural festival were already up, on average, by nearly 40% compared to 2022, especially in the 5-star category.
Comparing the rates available during the fair last year, and on the dates on which it will take place in 2024, there is a -17% readjustment in the ADRs of 5-star hotels (from 186 euros per night to 155), and an increase for 3 and 4-star hotels.
Mabrian data shows that 4-star hotels are charging an average rate of 114 euros/night, which is an increase of +15% compared to the prices available for the 2023 fair days. In the case of 3-star accommodation, the increase is +30%, with an average rate of 69 euros.
As Cendra points out, the data show that “the mid-range hotel categories are the most benefited by the demand linked to the event, as well as tourist rentals because, although prices are up compared to last year, they are still competitive for international markets, which may consider longer stays.”
In fact, and according to the most recent data, the tourist rental offer in Medellín has increased by 35% compared to last year, as well as the average rate per person per night which reaches 38 euros, which represents an increase of 33% in the cost of this type of accommodation compared to 2023.
Source: Mabrian.