Hospitality Industry in Spain Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

The report covers Spain's Hospitality Industry Analysis, which is segmented by type (chain hotels and independent hotels) by segment (service apartments, budget, and economy hotels, mid and upper mid-scale hotels, and luxury hotels). The report offers market size and forecasts for the hospitality industry in Spain in value (USD) for all the above segments.

Spain Hospitality Market Size

Hospitality Industry in Spain Summary
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Study Period 2019 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Historical Data Period 2019 - 2022
CAGR > 5.00 %
Market Concentration Medium

Major Players

Hospitality Industry in Spain Major Players

*Disclaimer: Major Players sorted in no particular order

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Spain Hospitality Market Analysis

Spain's hospitality industry market has generated revenue of USD 7.73 billion in the current year and is poised to register a CAGR of more than 5% for the forecast period.

Spain is the fourth most visited country in the world according to the latest statistics. Spain recorded more than 82 million tourists visiting the country in 2021. The capital city, Madrid, welcomed 10.2 million tourists in 2022, which was an 8% increase over 2021, of whom around 53% were international visitors, according to the report of Anuario de Turismo Madrid (Madrid Tourism Office). The rising number of international visitors is encouraging international brands to invest in the Spain hospitality industry, which domestic brands and European-origin brands dominate.

According to Horwath HTL, overnight stays grew by 11% year on year in 2022, and international overnight stays were greater than national stays, which accounted for more than 61% and 39%, respectively. The hospitality industry is expanding rapidly and is registering more new room openings year on year. Further, the shift in developments from urban regions to locations that are nearer to islands is observed, which represents the changing interests in customers' preference for more relaxed experiences in travel and stay. The upper-upscale and luxury categories have registered more growth in recent times.

The one trend that occurred in most of the recently opened hotels in Madrid and other urban locations is the accessible rooftop experience with a restaurant or bar or both, which clearly explains the investor's interest in attracting customers by providing stunning city skylines and the views from such a height in an exclusive environment.

Spain Hospitality Market Trends

Rising Number of International visitors are Accelerating the Growth of Hotels in Island Regions

International tourists greatly dominate the tourism industry in Spain. In 2022, from January to July, national arrivals increased by 2.6%, whereas international arrivals rose by 18.1%, of which the USA accounted for 6.7% alone. A trend has been observed where most international travelers prefer to stay near or in island locations rather than urban locations, even though they cost them more. In recent times, more than 70% of hotel transaction activity took place in the six regions that recorded 92% of international tourism. The Catalonia region occupied the first position with 23.8% of the total receipts, followed by the Balearic Islands with 18.0%. The Canary Islands, Andalusia, and Valencia 10.4% have also registered transaction volume. The Balearic and Canary Islands together have represented almost 40% of the total investment volumes.

Hospitality Industry in Spain : Total International Tourists Arrival in Spain, in Millions , 2018 - 2022

Domestic and European Origin Brands are Dominating the Market

The international capital flows from the USA accounted for USD 2,177 million in 2022. The brand penetration for chain hotels is comparatively higher than the individual hotels in the region. Different chain hotel brands in Spain registered around 34% year-on-year change in 2022 when compared to 2021, which is the highest among all the European countries. There are 253 different hotel brands with around 2,400 hotel properties and are offering more than 392,000 rooms in Spain, which are spread across different locations and islands, of which 187 are domestic and European born, of which 66 constitute the international brands.

Hospitality Industry in Spain : Changes in Investments in Spain Hotels, in USD Million, 2018 - 2022

Spain Hospitality Industry Overview

The hotel and accommodation sector in Spain is a consolidated industry with a combination of homegrown players and international players. Most of the hotels are strategically located in places that tourists highly prefer. The region holds good demand for hotels as the supply is a little less than the demand. With the co-operating government policies, the region is an attractive one for investors. The international brands and their chain penetration rates have reached stabilization as different domestic and European-born brands dominate the market. The opportunities for international chain penetration and growth are limited, yet they hold a scope with brand tie-ups or in collaboration with smaller domestic hotels. The major players in Spain are Marriott International, Meliá Hotels International, Barceló Hotel Group, Eurostars Hotel Company, and NH Hotel Group.

Spain Hospitality Market Leaders

  1. Meliá Hotels International

  2. Barceló Hotel Group

  3. Eurostars Hotel Company

  4. Marriott International

  5. NH Hotel Group

*Disclaimer: Major Players sorted in no particular order

Spain Hospitality Industry Concentration
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Spain Hospitality Market News

  • January 2023: Barceló Hotel Group, Spain, took the initiative on an Augmented Reality (AR) hotel art tour where visitors can interact virtually with 10 artworks in the hotel's collection, supplemented by computer-generated graphics and sound as well as written or audio narratives about the piece and artist.
  • May 2022: NH Hotel Group, Spain, took the initiative on an immersive virtual experience where guests take part in an interactive treasure hunt that combined virtual and physical gameplay during their stay.

Spain Hospitality Market Report - Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Deliverables

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET INSIGHTS AND DYNAMICS

    1. 4.1 Market Overview

    2. 4.2 Market Dynamics

      1. 4.2.1 Market Drivers

        1. 4.2.1.1 Contribution to the Economy to Generate Income for the Nation

      2. 4.2.2 Market Restraints

        1. 4.2.2.1 Longer Hours Of Working Pattern

      3. 4.2.3 Market Opportunities

        1. 4.2.3.1 Technological Advancements in Spain Hospitality Industry

    3. 4.3 Porter's Five Forces Analysis

      1. 4.3.1 Bargaining Power of Suppliers

      2. 4.3.2 Bargaining Power of Customers/Buyers

      3. 4.3.3 Threat of New Entrants

      4. 4.3.4 Threat of Substitute Products

      5. 4.3.5 Intensity of Competitive Rivalry

    4. 4.4 Insights on Revenue Flows from Accommodation and Food and Beverage Sectors

    5. 4.5 Leading Cities in Spain with Respect to Number of Visitors

    6. 4.6 Investments (Real Estate, FDI and others) in the Hospitality Industry

    7. 4.7 Technological Innovations in the Hospitality Industry

    8. 4.8 Insights on Shared LIving Spaces Impact on the Hospitality Industry

    9. 4.9 Insights on Other Economic Contributors to the Hospitality Industry

    10. 4.10 Impact of COVID-19 on the Market

  5. 5. MARKET SEGMENTATION

    1. 5.1 By Type

      1. 5.1.1 Chain Hotels

      2. 5.1.2 Independent Hotels

    2. 5.2 By Segment

      1. 5.2.1 Service Apartments

      2. 5.2.2 Budget and Economy Hotels

      3. 5.2.3 Mid and Upper Mid Scale Hotels

      4. 5.2.4 Luxury Hotels

  6. 6. COMPETITVE INTELLIGENCE

    1. 6.1 Market Concentration Overview

    2. 6.2 Company Profiles

      1. 6.2.1 Melia Hotels International

      2. 6.2.2 Barcelo Hotels International

      3. 6.2.3 Eurostars Hotel Company

      4. 6.2.4 Marriott International

      5. 6.2.5 NH Hotel Group

      6. 6.2.6 H10 Hotels

      7. 6.2.7 Accor Hotels

      8. 6.2.8 Wyndham Hotels Worldwide

      9. 6.2.9 Thomas Cook

      10. 6.2.10 IHG*

    3. *List Not Exhaustive
    4. 6.3 Loyalty programs offered by Major Hotel Brands

  7. 7. MARKET FUTURE TRENDS

  8. 8. DISCLAIMER

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Spain Hospitality Industry Segmentation

The hospitality industry is a broad category of fields within the service industry that includes lodging, food and beverage service, event planning, theme parks, travel agencies, tourism, hotels, restaurants, and bars. A complete background analysis of the hospitality industry in Spain, which includes an assessment of the industry associations, overall economy, emerging market trends by segments, significant changes in the market dynamics, and market overview, is covered in the report. 

The hospitality industry in Spain is segmented by type (chain hotels, independent hotels) and by segment (service apartments, budget and economy hotels, mid- and upper-mid-scale hotels, and luxury hotels). The report offers market size and forecasts for the hospitality industry in Spain in terms of value (USD) for all the above segments.

By Type
Chain Hotels
Independent Hotels
By Segment
Service Apartments
Budget and Economy Hotels
Mid and Upper Mid Scale Hotels
Luxury Hotels
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Spain Hospitality Market Research FAQs

The Spain Hospitality Market is projected to register a CAGR of greater than 5% during the forecast period (2024-2029)

Meliá Hotels International, Barceló Hotel Group, Eurostars Hotel Company, Marriott International and NH Hotel Group are the major companies operating in the Spain Hospitality Market.

The report covers the Spain Hospitality Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Spain Hospitality Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.

Hospitality in Spain Industry Report

Statistics for the 2024 Hospitality Industry in Spain market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Hospitality Industry in Spain analysis includes a market forecast outlook to for 2024 to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.

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Hospitality Industry in Spain Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)