Spain Tourism Boom to Drive Elevated Hotel Investment in 2016
Based on Christie + Co., the remarkable resurgence of hotel investment in Spain will continue to become a essential story in 2016. This can be according to their new report titled 'The Keys to the Spanish Hotel Market place Recovery'.
Spain tourism
Spain has been generating headlines on the back of record-breaking levels of inbound tourism it has skilled in 2015 so far and following four years of constant development. Over 38 million foreign tourists visited the country in the first seven months on the year, 4.7% more than through the identical period in 2014.
The news has been music for the ears of buyers, highlighted by substantial investments in existing 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 of your report comments, "Even amid political and economic instability, the Spanish industry has been in a position to absorb the hotel supply as tourists continued to check out the nation. Now that the hotel marketplace has roared to life we've witnessed an increase inside the flow of investment in the Middle East and China, with current high-profile sales like the W Hotel in Barcelona to a Qatari fund, as well as the recent purchase on the Hotel Ritz in Madrid by a joint venture involving Mandarin Oriental plus the Saudi conglomerate Olayan Group."
Commenting on the hotel development boom which has taken grip of your nation, Amparo says, "These new projects are spread over the nation in both urban and beach destinations, with 84% of new accommodation unit projects concentrated in Barcelona, Madrid, Malaga along with the Balearic Islands, and will be positioned within the 4-Star and 5-Star segments. These developments will enable the entry of new international brands currently not represented in our country, like Hyatt or Four Seasons, and let Spain to position itself as a extra competitive location by rising its appeal to a far more pick international audience with higher acquiring power".
Get to know more about tourism in Spain
Based on Christie + Co., the remarkable resurgence of hotel investment in Spain will continue to become a essential story in 2016. This can be according to their new report titled 'The Keys to the Spanish Hotel Market place Recovery'.
Spain tourism
Spain has been generating headlines on the back of record-breaking levels of inbound tourism it has skilled in 2015 so far and following four years of constant development. Over 38 million foreign tourists visited the country in the first seven months on the year, 4.7% more than through the identical period in 2014.
The news has been music for the ears of buyers, highlighted by substantial investments in existing 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 of your report comments, "Even amid political and economic instability, the Spanish industry has been in a position to absorb the hotel supply as tourists continued to check out the nation. Now that the hotel marketplace has roared to life we've witnessed an increase inside the flow of investment in the Middle East and China, with current high-profile sales like the W Hotel in Barcelona to a Qatari fund, as well as the recent purchase on the Hotel Ritz in Madrid by a joint venture involving Mandarin Oriental plus the Saudi conglomerate Olayan Group."
Commenting on the hotel development boom which has taken grip of your nation, Amparo says, "These new projects are spread over the nation in both urban and beach destinations, with 84% of new accommodation unit projects concentrated in Barcelona, Madrid, Malaga along with the Balearic Islands, and will be positioned within the 4-Star and 5-Star segments. These developments will enable the entry of new international brands currently not represented in our country, like Hyatt or Four Seasons, and let Spain to position itself as a extra competitive location by rising its appeal to a far more pick international audience with higher acquiring power".
Get to know more about tourism in Spain