Tourism recovery and renewed confidence in the Spanish market were evident in 2022, marked by a revitalization of hotel supply in the country’s major cities through the opening of several 4 and 5 star properties. The year signaled a shift toward higher-end accommodation, with new hotels expanding the landscape for travelers seeking premium experiences across Spain. [CBRE]
Jorge Ruiz, president of Hotels Iberia at CBRE, notes a clear investment trend in the Spanish tourism sector: money is migrating toward luxury and comfort, as operators cater to more demanding and higher-capitalized guests. He predicts that boutique hotels and top-ranked options will gain momentum in the coming years, delivering stronger returns and better profitability. [CBRE]
Madrid emerged as the leading city for hotel openings in the 4 and 5 star segment, with notable 2022 launches such as Ocean Drive (4*) and The Madrid Edition (5* GL), as well as Thompson Hotel Madrid (4*). Barcelona followed suit, rolling out high-end properties in recent months, including The Hoxton Barcelona (4*) in 2022, Me By Meliá (5*), and InterContinental Barcelona (5*) toward the end of the previous year. [CBRE]
In 2021, the Balearic Islands took the lead in hotel openings, highlighted by major launches under the Destination by Hyatt umbrella, such as Six Senses Ibiza (5*) and 7Pines Resort Ibiza (5* GL). Since January, the trend continued with prominent openings like TRS Ibiza Hotel (5*) and The Standard Ibiza (5*), which have become gateways for these brands in Europe and in Spain, respectively. [CBRE]
Other notable openings in 2022 included Club Med Magna Marbella Resort (4*) and Hard Rock Hotel Marbella (5*) in Marbella, Hotel Querencia de Sevilla (5*) in Seville, Radisson Collection Gran Vía (5*) in Bilbao, and Protur Biomar Sensatori Resort (5*) in Mallorca. [CBRE]
Real estate investment in the hotel industry
The hotel sector closed the first half of a recent year with investments totaling 1.7 billion euros, up 57 percent from the same period in the previous year and marking the strongest first half in five years. The four- and five-star segments, along with Grand Luxury hotels, dominated transaction activity during January through June, accounting for the majority of traded assets. Specifically, 56 percent of traded hotels were four-star properties and 22 percent were five-star and Grand Luxury hotels. [CBRE]
Sustainability criteria have begun to play a decisive role for owners, operators, and all market participants in renegotiating contracts and valuing hotel investments. As a result, more hotel groups are integrating sustainability considerations into the design and concept of new projects. An example is ME Barcelona, where the hotel powers 100 percent of domestic hot water with its own energy sources. [CBRE]