Market Report: Madrid, Spain

By On 05th February 2018

2017 has ended as a year of consolidation for Madrid, improving on the results of 2016, which was itself an outstanding year in terms of tourism performance.

Even though domestic demand in Madrid has shown signs of stagnation over the last year, international demand remains very strong, and has confirmed the milestone achieved in 2016, when foreign tourist arrivals clearly outnumbered domestic tourist arrivals to the capital.

These factors, together with a slower-than-demand supply increase in 2017, has resulted again in improved KPIs for the main hotel categories. More investors have been attracted this year by Madrid’s hotel market, boosting hotel transaction volume and the number of hotel projects in the pipeline.

The question now is: can this growth be sustained in the coming years?

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Philip Bacon

Philip Bacon, MA (Cantab.), FCA, MRICS, is based in Madrid. In addition to providing advisory and valuation services to the mainstream hotel sector, he specializes in advising clients around the world on the development of mixed used hospitality projects and master-planned resort communities. Following a career with Price Waterhouse in London and Barcelona, over more than 20 years, Philip has gained comprehensive experience, as a finance director, external board adviser and independent consultant, of the Spanish hospitality real estate market and of all aspects of hotel and resort development, operations and valuation.
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