Renub Research has recently published a report named “Spain Hotel Market: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2023-2030,” providing a detailed industry analysis that consists of market share insights. Furthermore, the report encompasses a study of competitors and regions and the recent growth in the Spain Hotel Market.
Spain Hotel Market is expected to expand significantly, with a projected CAGR of 12.19% between 2022 and 2030.For Spain’s economy to function, tourism is essential. In light of the recent growth of its hotel business, the nation has become one of the top tourist destinations in the world. Hotels in Spain provide a wide range of demand generators. Spain is one of the most popular travel destinations in the world thanks to its top-notch hospitality `infrastructure and highly professionalized tourist industry overall. Spain hotel market is poised for remarkable expansion, with projections indicating an impressive value of US$ 38.69 billion by 2030, fuelled by increasing international tourism, a robust domestic travel market, favorable government policies, and investments in infrastructure and tourism promotion.
Foreign visitors play a crucial role in Spain’s hotel market, driving occupancy rates, boosting hotel revenue, and contributing to its growth and sustainability. With Spain being a popular tourist destination, the influx of international travellers, including leisure tourists, business travellers, and convention attendees, ensures a steady demand for accommodations across the country. The continuous flow of foreign visitors has been instrumental in the success of the Spain hotel market. According to information released by the Spanish government, 30.2 million foreign visitors were registered to arrive in Spain in 2022, regaining almost 80% of pre-pandemic levels. These tourists primarily travelled to the Valencian Community, Andalusia, and the Canary Islands.
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In 2022, hotel investment in Spain increased, approaching the levels reached in 2017 and 2018, which served as the peak years for these transactions to date. This amount of 3.279 billion euros, according to Colliers’ Hotel Investment Report in Spain, represents the third-highest investment in the history of the Spanish hotel business. The amount exceeded 3 billion euros for the second year in a row, an increase of 3.1% from the 3.1 billion euros it attained in 2021. A total of 17,754 rooms across 133 current hotels as well as 30 sites slated for hotel conversion and hotel-ready land were sold last year. The amount is marginally more than that of 2021, when 127 hotels were sold, but with 19,043 fewer rooms, providing an impression of the magnitude of the assets.
The upscale segment in the Spain hotel market is experiencing growth.
Spain’s allure as a sought-after tourist destination has enticed affluent travellers in search of lavish accommodations and upscale experiences. Moreover, the country’s improving economic conditions and growing disposable incomes have enabled a larger portion of the population to afford luxurious accommodations. The escalating demand for top-notch services and amenities from discerning travellers has further fuelled the expansion of the upscale segment. Investments in luxury hotels and the expansion of international luxury hotel chains in Spain have significantly enriched the array of high-end options available to travellers.
Hotel Type – Spain Hotel Market & Numbers
1. Luxury Hotel
2. Upscale Hotel
3. Mid-Scale Hotel
The growth of owned hotels in Spain is driven by the appeal of full control over property and operations, providing investors and hoteliers with flexibility and decision-making power.
Owned hotels also offer higher potential for profitability and return on investment compared to other hotel types. The robust tourism industry in Spain, driven by its popularity as a tourist destination, diverse attractions, and favorable climate, attracts a continuous flow of visitors, creating a favorable market environment for owned hotels. The increasing trend of international tourism, as well as the demand for experiential and personalized travel experiences, further contributes to the expansion of owned hotels. Supportive government policies and incentives for hotel development and investment have also played a role in encouraging the growth of owned hotels in the Spain hotel market.
Model Type- Spain Hotel Market
- Management Control
In Spain hotel market, the market for online hotel reservations is expanding significantly.
In Spain, the number of hotel reservations made online has nearly doubled in recent years. Customer behavior in the tourism sector is evolving quickly. Online travel booking is becoming more and more popular with consumers. Online travel firms provide a range of booking services, such as those for housing, transit, sightseeing, and auto rentals. This website provides information on numerous travel service providers as well as client reviews on the products and services they provide.
The term “online travel booking platform” has fully dominated the travel industry. Nowadays, the services that make the most use of online booking systems are airlines, hotels, motels, taxis, and custom vacation packages. The industry for online travel booking is being driven by numerous different booking platforms that incorporate event booking. A vital resource for travel firms or organizations is an online booking system. One of the major markets in the travel industry is that of online reservations.
Ordering Platform – Spain Hotel Market
- Direct – Phone
- Direct – Mail / fax
- Direct – Walk-In (persons without reservation)
- Direct – Contact from own website (without availability check)
- Direct – Email
- Direct – real time booking over own website (with availability check)
- Destination Marketing Organization (DMO / trade associations
- National Tourism Organization (NTO)
- Tour operator / Travel agency
- Hotel chains and cooperation with CRS
- Wholesaler (e.g. Hotel beds, Tourist, Gulliver, Trans hotel, etc.)
- Event and Congress organizer
- Online Booking Agency (OTA)
- Global Distributions system (GDS)
- Social Media Channels
- Other distribution channels
Leading businesses in the burgeoning Spain hotel marketinclude Meliá Hotels International, Barcelo Hotel Group, NH Hotel Group, TUI Hotels & Resorts, and Marriott International.
All the key players have been covered 3 Viewpoints
• Recent Developments
- Meliá Hotels International
- Barcelo Hotel Group
- NH Hotel Group
- TUI Hotels & Resorts
- Marriott International
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