Hotels, market data - Figures second quarter 2024 Spain

Increasingly, tourism is a key driver for the Spanish economy. In the first half of 2024, Spain reached 54 million visitors, and overnight stays also registered increases in year-on-year terms with nearly 161 million. In terms of hotel supply, Spain currently has a total of 1,502,000 available beds distributed in 14,130 hotels, whose occupancy rate was around 66%. On the project portfolio side, around 220 hotels are expected to open in Spain by 2025, 24% of which are high-end (5 stars and 5 stars GL) and around 50% are concentrated in Malaga, Madrid, the Canary Islands and Cadiz.

The dynamism of the Spanish hotel sector was reflected in the more than €1,385 million transacted during the first half of the year (25% of the total), especially through medium-volume operations. With €847 million transacted in the second quarter, the sector has maintained its momentum in investment, which we expect to continue thanks to the pipeline of operations

In the first half of 2024, 73 hotel assets and more than 7,400 rooms were transacted in Spain compared to 59 hotel assets and 7,600 rooms in the first half of 2023. Looking ahead to the second half of the year, Spain will continue to break records in the tourism sector and is positioned as the second most visited country in Europe. Further improvements in the management of tourism flows will be essential to ensure socially and environmentally sustainable growth.