Hotels, Market Data - Figures Fourth Quarter 2024 Spain

Spain has closed 2024 with an all-time record in the arrival of international tourists and a significant increase in tourist spending (+17%), highlighting the importance of the sector for the Spanish economy. From January to December, 116 million visitors were registered, 4% more than in 2023, generating 364 million overnight stays in hotel establishments, which represents a growth of 5% compared to 2023. The hotel supply reached 1,576 thousand beds in 14,613 establishments, with an occupancy rate close to 68% at the end of the year. Regarding the project portfolio, approximately 250 new hotels are expected to open by 2026, with 25% of them being high-end (5 stars and 5 stars GL) and concentrating around 50% in Malaga, Madrid, the Canary Islands and Cádiz.

The hotel sector has established itself as the second most attractive real estate asset for investors, with an investment volume of €3,216 million up to December (€938 million in Q4). This segment accounted for 23% of the total transactions in Spain.

In 2024, a total of 170 hotel assets and 17,400 rooms were transacted in Spain, compared to 181 hotels and 21,400 rooms in 2023.

The operating results of the hotel industry in 2024 confirmed the good pulse of hotel and tourism activity in our country, standing above 2023 and pre-covid levels, and driven by the good performance of demand and the increase in the average rate.