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Is Ibiza expensive? Prices for rooms, food and taxis are rising

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A seaside restaurant charges 30 euros ($30) for a burger.

A big sunbed at an upscale beach club can cost 500 euros in August.

And a table at a “VIP” nightclub can run into the 1000’s.

Though Spain is usually considered a inexpensive travel destination, the Spanish island of Ibiza has long been generally known as a spot for living the high life.

“The pricing is silly,” said Ben Pundole, a luxury hotel consultant and longtime Ibiza visitor, in an email to CNBC. “After 23 years in Latest York, I can only compare it to the Hamptons in the peak of [the] season.”

Beachgoers and boaters at Cala Salada, Ibiza.

Alex Tihonov | Moment | Getty Images

Yet Ibiza’s visitors are pleased to spend big, Pundole said.

“Ibiza could be very expensive, it is usually been expensive,” he said. “But persons are willing to pay.”

Rising prices

While hippies were drawn to Ibiza for its rumored “magnetic” vibrations within the Nineteen Sixties, it was arguably British-Australian Tony Pike who put the island on the map when he opened the Pikes Hotel, now generally known as Pikes Ibiza, in 1980. The small hotel transformed a 500-year-old estate within the hills into a celebration haven.

Pike’s wealthy and famous friends, similar to Freddie Mercury, George Michael and Kylie Minogue, stayed on the hotel — and it’s still a spot that pulls crowds to its rooms, restaurant, and dancefloor.

The Nineteen Eighties also saw the rise of clubs similar to Amnesia, Space (now home to Hi Ibiza) and Pacha, with the latter currently charging 13 euros ($13) for an everyday can of Coca-Cola. More clubs have since opened, including Ushuaia, which was named the third best club on the planet in 2019 by the International Nightlife Association.

A can of Coca-Cola at a VIP table at Ibiza’s Pacha nightclub costs $13, while full-size bottles of liquor start around $500.

Zowy Voeten | Getty Images

Restaurants, clubs, holiday rentals and taxis have all noticeably hiked prices this yr, Pundole said.

“It’s an island, it’s seasonal, businesses are making up for 2 years of lost revenue, there’s supply chain issues and the pent-up demand is gigantic,” he said.

Indeed, the variety of tourists visiting the Balearic Islands was up 300% yr over yr in May, in response to Spain’s National Institute of Statistics.

‘Established glamour’

Ibiza’s status as an upscale destination evolved over a couple of a long time, said Carolyn Addison, head of product at luxury travel specialist Black Tomato. “It has this type of … established glamour. So, there’s loads on offer that is pricey,” she told CNBC by phone.

“You would need to trace it back to the ’60s when there was this type of … hippie crowd that washed up,” she said. “As that crowd possibly got older, richer, more established, [it] defined the island in a recent way.”

A six-night trip organized by Black Tomato starts from around £6,100 ($7,260) per person, including accommodations, breakfast and a one-day private yacht charter (the worth excludes flights).

A six-night trip to Ibiza with travel company Black Tomato — with stays at places just like the 7Pines Resort Ibiza (here) — starts at around £6,100 ($7,260) per person, excluding flights.

Source: Black Tomato

Six Senses Ibiza is popular with Black Tomato’s clients, said Addison. The luxurious hotel announced the addition of 19 private residences and two “mansions” in June.

Mansions cost around $16,000 per night in the summertime, in response to the hotel’s website. Guests have access to a spa, kids’ club and each day activities similar to kayaking and cliff jumping. Each comes with a “Guest Experience Maker” who can organize nightclub entry and boat trips, in response to the hotel.

Also recent at Six Senses this yr is Beach Caves, a venue with a restaurant, live music space, recording studio and 6 suites with extra-large beds, near the town of Portinatx on Ibiza’s north coast.

Pundole, who’s Beach Caves’ creative director, described the world as having “a special vibe,” and called it “curious, mystical, equally as hedonistic, and as bohemian as anywhere you might imagine.” Beach Caves suites start from 1,565 euros an evening in the summertime.

The Cave Royale suite at Beach Caves, Ibiza. Room rates on the hotel start at 1,565 euros ($1,582) per night in the summertime season.

Source: Beach Caves

This yr also saw luxury hotel group Mandarin Oriental take over management of Tagomago, a non-public island off Ibiza’s eastern coast. The whole island is offered to rent for around 30,000 euros an evening in the course of the high season, which incorporates a non-public villa, chef, concierge, butler, villa host and yacht captain, in response to a promotional brochure.

Luca Finardi, operations director of Mandarin Oriental Exclusive Homes, said Tagomago’s clientele comprise “quite a lot of high-end individuals from all around the world.”

Luxury demands

Asked why Ibiza is so expensive, Finardi said by email that the island is popular with upmarket travelers who want a mixture of “beautiful scenery, top quality restaurants and bars, chic shopping experiences and energetic nightlife.”

“It also provides lovely areas where guests can find quiet corners to flee the crowds,” he said. “It represents value for money to people searching for these experiences.”

The private island of Tagomago comes with a chef, butler, concierge, villa host and yacht access.

Source: Isla de Tagomago

At A.M.A Selections, a luxury home booking site that launched in June, the common cost of a 10-day villa stay on Ibiza is around 26,500 euros, in response to co-founder Mariek Anselme. Most clients add services similar to pop-up cinema experiences — which start from 500 euros per screening — in addition to private chefs, yoga classes and spa treatments.

“The island is in a position to strike a balance of authentic, boho charm with upscale offerings popular amongst VIPs and wealthy travelers,” Anselme told CNBC by email.

“For a long time it’s pulled in iconic names within the music industry, creating an elite and indulgent entertainment scene … In recent times we have seen more global leaders in luxury hospitality open in Ibiza, giving it a world-class status that’s in a position to command high prices,” she added.

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