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?

About The Author

Profile Image

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.
 
pbacon@horwathhtl.com
View My Profile

Follow us

Friend me on FacebookFollow me on TwitterFollow my company on LinkedIn

Copyright 2018 Horwath HTL Limited. All rights reserved.

Crowe Horwath International is a leading international network of separate and independent accounting and consulting firms that may be licensed to use "Crowe," "Crowe Horwath" or "Horwath" in connection with the provision of accounting, auditing, tax, consulting or other professional services to their clients. Crowe Horwath International itself is a nonpracticing entity and does not provide professional services in its own right. Neither Crowe Horwath International nor any member is liable or responsible for the professional services performed by any other member.