Boom in tourism: a new hotel in Spain every four days

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Amid the expressions of concerned citizens against mass tourism that makes their lives more difficult, a news article in the economics section Cinco Días in El País stands out. Between April 1, 2024 and December 31, 2025, 260 new hotels will open their doors in Spain. That equates to a new hotel every four days.

This record pace of hotel openings reflects the post-pandemic revival of the tourism industry. Spain has put itself on the world map as a top destination. In 2023, the country welcomed a record number of visitors with 85.3 million.

Luxury and urban destinations

What is striking about this wave of new hotels is that they mainly concern luxury accommodations in urban areas such as Madrid, Málaga, Valencia, and the Canary Islands. Of those planned, no less than 22% fall within the segment of five-star and luxury resorts. Investors and developers are clearly focusing more and more on the higher market segment.

Investment climate

Investments in the hotel industry have peaked with a total value of €4,248 million in 2023, almost matching the record levels of 2018. Foreign investors played a crucial role in this, but surprisingly enough, Spanish investors are also increasingly taking a prominent position. The focus is not only on new projects but also on the acquisition of existing hotel managers, which points to a strategy focused on operational risks and higher returns.

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Sustainable and profitable tourism

Experts predict that the dynamics in the hotel market will continue. There is an increasing interest in sustainable and profitable tourism. Average room rate and revenue per available room (RevPAR) have increased, indicating healthy demand and a robust market. With an occupancy rate of 61% and a growing preference for luxury, the Spanish hotel industry seems ready to enter a new phase of growth and prosperity.

Most expensive hotel in Spain

Among the new hotels to be opened, the Four Seasons chain will open a new branch in the former Formentor hotel in Mallorca in June. After a complete renovation of the interior, this will become the most expensive in Spain. Another new five-star hotel will be built on Gran Vía in Madrid. The Brach chain opens at number 20 in a building dating from 1919. Guests can stay in 58 rooms and suites.

Also read: These five Spanish hotels are among the best in the world according to Michelin

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