Tourism is back with a vengeance. Nearly 2,585 rooms in high-end hotels (4* and 5* properties) have been added to the supply during the first seven months of the year following the opening of various hotels across Spain. Tourism is returning along with confidence in the Spanish market, a scenario that has allowed a significant number of international groups and brands to make their debuts in the country during this period, according to CBRE’s latest report.
“Hotels is the segment that received the third largest real estate investment during the first half of the year, behind Living and Retail. Without a doubt, it is a sector that is continuing to grow at a good pace in Spain and it is once again attracting the attention of big brands”, explains Jorge Ruiz, Head of Hotels Iberia at CBRE. He adds that “in addition, this sector tends towards options of greater luxury and comfort, tailored to more demanding clients and with greater capital. Gradually over time, we expect to see the rise of boutique hotels and other high-end options”.
Read the full article in Spanish.