This event, linked to local culture and the international floral industry is the tourist attraction that generates the greatest interest among travelers who visit Colombia during its celebration. This fact, together with the behavior of demand and accommodation prices, offers great potential for the local tourism industry in Medellín and Colombia.
Hotel rates in Medellín are set to rise by 10% during the Medellin’s Feria de las Flores, one of the most outstanding cultural events in Colombia that will also attract international travelers from key markets for both destinations, such as the United States and Spain, according to our data.
Feria de las Flores reflects the important role that this country plays in the global floral market. Colombia is the second largest exporter of flowers in the world – after Holland – and the department of Antioquia, whose capital is Medellín, sources 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 floral production, attract 50 thousand visitors, with an economic impact of 30 million dollars, according to official data.
To measure the scope of this event, and to understand how it influences the tourist offer, we anticipate the impact of the accommodation market, focusing on international inbound 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 did tourism in Colombia, which demonstrates its potential as a driver of demand for the region and for the entire country.
In addition to the large number of Colombian travellers that will visit Medellin to enjoy Feria de las Flores, Mabrian forecasts 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 round up the motivations of travelers who visit the country during July and August, contributing to tourist spending.”
Carlos Cendra, partner and director of Marketing and Communications at Mabrian.
Mid-range and tourist rentals will benefit the most
On the other hand, events lasting several days, such as this one, also contribute to boosting demand for accommodation, as shown by our data. Last year, hotel rates available for stays during the ten days of this cultural festival rose, on average, by almost 40% compared to 2022, especially in the 5-star category.
When comparing the rates available during the fair last year, and on the dates on which it will take place in 2024, a readjustment of -17% in the ADRs of 5-star hotels takes place, going from 186 euros per night to 155; and an increase in cost per nights for 3 and 4-star hotels.
Our data show that 4-star hotels reach an average daily rate of 114 euros/night, which represents an increase of +15% compared to the prices available for the fair days in 2023. As per 3-star accommodation, they rise +30%, with an average daily rate of 69 euros.
As Cendra points out, the data shows that “the medium-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 can 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 that reaches 38 euros, which represents an increase of 33% in the cost of this type of accommodation compared to 2023.
