Hotels, market data - Figures second quarter 2025 Spain

Spain received more than 54 million visitors in the first half of the year, slightly exceeding the figures for the same period of the previous year. Growth was driven by international tourism, which increased by 2% in volume and 8% in accumulated spending through May. Four- and five-star hotels led the growth, with a 2% increase in the number of arrivals, compared to the stagnation of lower-category establishments, reflecting the consolidation of quality tourism in our country.

For the second half, a rebound in activity is anticipated during the summer months and a continuation in the rate of growth, moderate but sustained, of tourism.

The hotel sector strengthens its position as a focus of investment in Spain, remaining as one of the three preferred asset types for investors. The sector has concentrated a total investment volume of 1.64 billion euros in the first half of the year, which represents 22% of the total invested in the real estate market. Although this figure represents a 10% drop compared to the same period of the previous year (1.8 billion euros), it is positioned as the second-best record for a first half in the last eight years.

Between January and June, nearly seventy hotel assets were transacted in Spain, totaling more than 8,100 rooms. 4 and 5-star hotels remained the preferred choice for investors, concentrating 70% of the total investment. The polarization of investor interest continues to gain weight, with a growing commitment to both the luxury segment and budget hotels. The latter represented nearly 20% of the operations, while 3-star hotels have been losing prominence, capturing less than 10% of the total investment.

The Canary Islands were positioned as the preferred destination for investors, accounting for 38% of the investment, followed by Barcelona (22%) and the Balearic Islands (14%). The trend of converting assets towards hotel use in urban centers continues, especially in Madrid, driven by the high tourist demand.