Hotels, market data - Figures third quarter 2024 Spain

The tourism sector is a key driver of the Spanish economy, which in 2024 will consolidate our country as the second most visited destination in Europe and globally. In these nine months of 2024, 92 million visitors were registered in Spain, generating 292 million overnight stays in hotel establishments. In terms of hotel supply, Spain has 1,640 thousand beds available in 14,979 establishments, with an occupancy rate of around 70% at the end of the third quarter. In terms of the project portfolio, around 200 hotels are expected to be opened in Spain by 2025, 24% of which will be high-end (5-star and 5-star GL), with around 55% concentrated in Malaga, Madrid, the Canary Islands and Cadiz.

The dynamism of the Spanish hotel sector has reached an investment volume of 1.7 billion euros up to September (320 million in Q3), accounting for 21% of the total transacted in Spain.

Up to the third quarter of the year, a total of 99 hotel assets and 9,400 rooms were transacted in Spain, compared to 90 hotels and 11,400 rooms in the same period of 2023.

The hotel industry has once again shown solid operating results from January to September 2024 and up from a year ago, thanks to the good performance of demand and the increase in the average rate.