Offering personalized experiences and exclusive services, luxury tourism in Spain is a sector that has grown stronger over the past years through an influx of international luxury hotel projects. According to a new report from Christie & Co, major global brands have had their sights set firmly on Spain since 2019.
The pandemic may have temporarily slowed some companies’ implementation timelines, but since the market began to move again, the action has been decisive and continuous. The Christie study, “International Brand Development in Spain,” reveals that 122 new hotels have been opened in the country since 2019 by 28 different international groups. Overall growth in Spain among these companies has been 16%, well above the 4.5% attributed to national group expansions. However, the biggest difference lies not in the number of investments but in the approach: while large international brands are betting on big hotels, domestic groups have chosen to grow through investment in smaller establishments.
Luxury firms like Four Seasons and Rosewood are targeting, above all, major cities such as Madrid, Barcelona and Seville. But even less well-known areas like Cartagena, in Murcia, are attracting the attention of giants like Hyatt, who decided, in fact, to establish the first Grand Hyatt hotel in Spain there.
So what does this decision mean in commercial terms? It’s a strategic move that responds to new trends in luxury tourism in Spain and elsewhere. Guests are now looking for privacy, tranquility and exclusivity away from mass tourism destinations and want to enjoy excellent dining, culture, nature and wellness, all in one place.
With all these characteristics offered in numerous different regions, it’s not surprising that big international brands are focusing their energies on Spain as a major attraction for foreign tourists with purchasing power. According to Christie & Co.’s forecasts, 68 more hotels will be opened over the next three years and almost half of these will be 5-star establishments. The hotel development sector is looking for Branded Hotels that will add value to resorts, cities, and destinations. There’s great investment potential for big brands looking to generate new products and services for luxury tourism in Spain.
