DUBLIN--(BUSINESS WIRE)--The "Spain Hotel Market, Share, Forecast 2022-2027, Industry Trends, Size, Growth, Outlooks, Impact of COVID-19, Company Analysis" report has been added to ResearchAndMarkets.com's offering.
Spain Hotel Market will reach US$ 18.07 Billion by the end of the year 2027 from US$ 2.56 Billion in 2021, growing with a CAGR of 38.5% from 2021 to 2027.
Tourism plays a vital role in Spain's economy. The country has evolved into one of the top tourist destinations globally, reflecting on its hotel industry's evolution in recent years. Spain hotels provide a wide variety of demand generators.
Its excellent hospitality infrastructure and the highly professionalized tourism sector, in general, have made Spain one of the most significant visitor destinations in the world. According to our research, Spain welcomed more than 80 million international tourists annually in recent years 2021.
Spain's hotel industry is expected to grow
Spain has many international and domestic hotel brands and hotel groups. Domestic and international hotel chains have identified the appeal of expansion in the Spanish market, which has led to a more significant presence of chains in recent years.
Spain has several hotel chains: NH Hotel and Melia, Iberostar Hotels & Resorts, Riu Hotels & Resorts, and Barcelo Hotel Group. Melia Hotels International, headquartered in Palma region de Mallorca (Balearic Islands), is the leading Spanish hotel chain by revenue and number of rooms worldwide.
Spain Hotels Market: Exponential Growth of Travel & Tourism Industry a Key Driver
The rise in Spain's consumer purchasing power, growth of economies, and digital innovation is fueling the growth of the tourism and travel industry, which is subsequently driving the Spain hotels market.
Further, since the past two decades, international travel departures around Spain have grown two-fold, and over the next few years, this trend is projected to grow even more, thus promoting the booking frequency of business and commercial hotels, subsequently contributing to higher occupancy rates.
Spanish Luxury Hotels has redistricted more Growth
The Spain hotel market is segmented into luxury, Upscale, Midscale, and Budget & Economy hotels. The luxury categories have registered more growth in the Spain hotels market. Rich consumers primarily avail luxury services, and therefore, the ever-growing wealthy populations across Spain are likely to boost market expansion.
Further, business luxury hotels are increasing due to constant bookings from business executives at luxury airport hotels or luxury city hotels that are centrally located. The BLESS Madrid Hotel, Hotel Palacio de Villapanes, W Barcelona, The Ritz-Carlton, Abama in Tenerife are the main Spanish luxury hotel. They feature gorgeous sea views, luxe interiors, and lush gardens. It's also an excellent pick for foodies.
On the basis of the Ordering Platform, the online hotel booking market is steadily increasing in the hotel industry in Spain. Online hotel bookings in Spain have virtually doubled over the past few years. Customer behavior in the travel industry is rapidly changing. More and more consumers book their travel over the internet. This trend has further accelerated due to pandemic COVID-19.
COVID-19 Impact on Spanish Hospitality Industry
2020 was an extremely tough year for companies in hospitality in Spain. The enforcement of travel constraints by most national governments in the world contributed to decline in Spain Tourism Market. In any case, the hotel sector is one of the hardest hit by the COVID-19 crisis in Spain.
The temporary shutdown of hotels and the consequent collapse of hotel occupancy during the lockdown have given way to a scenario with asymmetric phases and limitations of geographical mobility, and certain restrictions on foreign tourism. Thus, the Covid-19 pandemic has had the most detrimental impact in memory on Spain's hotel sector, a vital pillar of the tourism industry.
Further, the industry could see a strong rebound in demand in the year 2021. On the other hand, leisure travel and holiday tourism have a greater chance of recovering than business tourism, which was heavily affected by international travel restrictions, containment of business expenses, and the influence of telecommuting (working from home).
The Spain hotel market is highly fragmented, with players like Melia Hotels International, Barcelo Hotel Group, NH Hotel Group, TUI Hotels & Resorts, and Marriott International.
Key Topics Covered:
1. Introduction
2. Research & Methodology
3. Executive Summary
4. Market Dynamics
4.1 Growth Drivers
4.2 Challenges
5. Spain Hotel Market
5.1 Market
5.2 Number of Hotel
5.3 Number of Hotel Rooms
5.4 ADR (average daily rent per night)
5.5 Occupancy Rate
5.6 REVPAR (Per room per night)
6. Share - Spain Hotel Analysis
6.1 Hotel Type Market Share
6.2 Hotel Type Volume Share
6.3 Ordering Platform Market Share
7. Hotel Type - Spain Hotel Market and Volume
7.1 Luxury Hotel
7.2 Upscale Hotel
7.3 Midscale Hotel
7.4 Budget & Economy Hotel
8. Ordering Platform - Spain Hotel Market
8.1 Online Hotel Market
8.2 Offline Hotel Market
9. Region - Spain Hotel Market
9.1 Barcelona
9.1.1 Number of Rooms
9.1.2 Room Average Daily Rate (ADR)
9.1.3 Occupancy Rate
9.1.4 Revenue per Available Room (RevPAR)
9.2 Madrid
9.3 Palma
9.4 Seville
9.5 Valencia
9.6 Granada
9.7 Malaga
9.8 Alicante
9.9 Bilbao
9.10 Cordoba
9.11 San Sebastian
9.12 Santiago de Compostela
9.13 Santander
9.14 Cadiz
10. Porters Five Forces
10.1 Overview
10.2 Bargaining Power of Buyers
10.3 Bargaining Power of Suppliers
10.4 Degree of Competition
10.5 Threat of New Entrants
10.6 Threat of Substitutes
11. Company Analysis
11.1 Overview
11.2 Resent Development
11.3 Revenue
- Melia Hotels International
- Barcelo Hotel Group
- NH Hotel Group
- TUI Hotels & Resorts
- Marriott International
For more information about this report visit https://www.researchandmarkets.com/r/pnykv6
