Spain Tourism Boom to Drive Increased Hotel Investment in 2016

Based on Christie + Co., the outstanding resurgence of hotel investment in Spain will continue to become a crucial story in 2016. This really is depending on their new report titled 'The Keys for the Spanish Hotel Market place Recovery'.

business tourism

Spain has been producing headlines around the back of record-breaking levels of inbound tourism it has experienced in 2015 so far and following four years of consistent development. More than 38 million foreign tourists visited the country inside the first seven months on the year, 4.7% far more than for the duration of the same period in 2014.

The news has been music towards the ears of buyers, highlighted by extensive investments in current hotels along with the arrival of newcomers in prime cities and secondary markets.

Amparo Gómez-Angulo, Consultant at Christie + Co's Barcelona Office and author on the report comments, "Even amid political and economic instability, the Spanish market has been able to absorb the hotel provide as vacationers continued to take a look at the country. Now that the hotel marketplace has roared to life we've got witnessed an increase within the flow of investment in the Middle East and China, with current high-profile sales including the W Hotel in Barcelona to a Qatari fund, as well as the current purchase on the Hotel Ritz in Madrid by a joint venture amongst Mandarin Oriental and also the Saudi conglomerate Olayan Group."

Commenting on the hotel improvement boom which has taken grip in the country, Amparo says, "These new projects are spread more than the country in each urban and beach destinations, with 84% of new accommodation unit projects concentrated in Barcelona, Madrid, Malaga plus the Balearic Islands, and will be positioned inside the 4-Star and 5-Star segments. These developments will enable the entry of new international brands at present not represented in our nation, including Hyatt or 4 Seasons, and let Spain to position itself as a much more competitive location by rising its appeal to a a lot more select international audience with higher purchasing power".

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