Key Findings 

Market Recovery: 

• Spain’s hotel sector has shown a significant rebound from the pandemic’s effects, with tourism numbers and hotel performance improving steadily throughout 2022. By December 2021, Spain welcomed 31.1 million tourists, a 64.4% increase from 2020, though still below 2019 levels. 

• The recovery has been driven primarily by leisure travel, with resort destinations experiencing particularly strong demand. This trend has led many hotel chains to focus their expansion efforts on these high-demand areas. 

Growth of Hotel Chains: 

• The total number of chain hotels in Spain increased by 10% from 2021, bringing the total to 2,780 hotels. The number of chain rooms grew by 8% to 426,527, reflecting a continued expansion of branded hotels across the country. 

• Chain penetration has risen to 39% of all hotels and 65% of all rooms in Spain, highlighting the increasing dominance of branded properties. 

Emergence of New Brands: 

• Around 50 new brands have entered the Spanish market in the past year, with a significant portion of these being domestic brands. Notable entries include Rosewood Hotels & Resorts, Club Med, and Mett Hotels & Resorts. 

• Established hotel chains have also introduced new brands to the market, such as Marriott International’s Aloft, IHG’s Six Senses, and Accor’s SO/. These new brands cater to a wide variety of target markets, emphasizing Spain’s capacity to support diverse hospitality offerings. 

Investment Trends: 

• Hotel investment in Spain nearly tripled in 2021 compared to 2020, with a total transaction value of €3,180 million, surpassing pre-pandemic levels by 30%. The average price per room reached record highs, with an average of over €150,000 per room. 

• The first half of 2022 saw hotel investments reach €1,520 million, with urban markets outperforming leisure destinations. However, experts recommend caution for the remainder of the year due to rising inflation, energy costs, and geopolitical uncertainties. 

Top Hotel Chains: 

• Meliá Hotels International continues to lead the market with 116 hotels and 30,274 rooms, followed by Barceló Hotel Group with 79 hotels and 18,651 rooms, and Eurostars Hotel Company with 152 hotels and 15,181 rooms.

• Among international chains, Marriott International leads with 94 hotels and 13,799 rooms, followed by Hyatt Hotels with 48 hotels and 12,822 rooms, and Accor Hotels with 97 hotels and 11,856 rooms.

Pipeline Developments: 

• The development pipeline remains robust, with significant projects planned in key regions like Andalucía, the Canary Islands, and the Balearic Islands. These projects are expected to add thousands of rooms to Spain’s hotel inventory over the next few years. 

 Spain’s hotel industry has demonstrated resilience and adaptability, with a strong recovery in both leisure and urban markets. The growth in branded hotels, the introduction of new brands, and a vibrant investment landscape all point to a positive outlook for the sector. However, challenges such as inflation and energy costs may temper growth in the near term. 

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