In the year 2018, Spain, with 82.6 Million, received the 3rd highest number of tourists after France (90 Million) and United States (81 Million). However, in terms of tourism revenue, Spain was the second highest globally, only behind the United States but more than France. All these factors make Spain one of the faster-growing hotel markets across the world. Spain's hotel market has grown extensively in recent years, and it is projected to grow during the forecast period. With the continued growth of tourism, rapid economic growth, and the medium population base, natural resources, Spain has many international and domestic hotel brands and hotel groups. According to Renub Research, Spain Hotel Market is expected to be USD 24.1 Billion by the end of the year 2025.
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According to our study, the rapid growth in the international tourists are driving the tourism industry as well as the hotel industry and increasing the demand for the development of new hotels across Spain. By the year 2019 to 2020, Spain will open more hotels in cities like Madrid 3 hotels with 854 rooms, Barcelona 3 hotels with 422 rooms, with more cities to follow a similar trend, which is covered in this report. Investment activity is booming in Spain. Last year, after the United Kingdom, Spain was second in terms of investment volume.
Renub Research report titled “Spain Hotel Market, Numbers & Forecast by Type (Luxury, Upscale, Midscale, and Budget & Economy) Ordering Platform (Online, Offline), Region (Barcelona, Madrid, Gran Caneria, Ibiza &Formentera, Carany Islands, and Others), Hotels (Meliá Hotels International, Barcelo hotel group, NH Hotel Group, TUI Hotels & Resorts and Marriott International)” provides a complete analysis of Spain Hotel Market.
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By Hotel Type – High-End Hotel Market Dominates the Spain Hotel Market
The report studies the market for the following hotel segments: High End, Mid Scale, and Budget. The high-end hotel dominates the hotel market in Spain.
By Ordering Platform – Online Hotel Booking Market is steadily Growing
The online hotel booking market is steadily increasing in the hotel industry in Spain. This study includes two kinds of the platform for ordering: Online and Offline. The online hotel industry is expected to develop tremendously by 2025.
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