Luxury is gaining prominence in the Spanish hotel market. The country will end 2023 with 7,000 luxury hotel beds provided by two of the country's major cities, according to the report prepared by JLL.
The consultancy firm points out that by the end of 2023, Madrid has experienced a notable increase of 51% in its supply of luxury rooms, reaching a total of 2,700 beds. According to the report, this expansion positions it as one of the most attractive cities in Europe, due to the constant demand from both leisure and business travellers. It also highlights the continued growth in the number of international visitors to the destination.
It also highlights that Madrid's hotel market has experienced a renaissance in recent years. The city has benefited from an increase in popularity and has undergone a transformation in terms of 5-star hotels and luxury tourism. The arrival of several international luxury hotel brands, such as FourSeasons, Edition (part of the Marriott group) and MandarinOriental, has put the capital in the spotlight to become a luxury destination in Europe.
Barcelona, meanwhile, remains one of the most established urban hotel markets in Europe. Despite the restrictions on development imposed by the current hotel moratorium, the city's supply of luxury rooms is close to doubling by the end of this year compared to the figures of a decade ago, reaching a total of some 4,200 luxury hotel rooms.
In addition, JLL notes that new luxury hotels will be located in areas that are not traditional for this type of establishment. This is the case of the future SLS (an Accor brand) in the Forum area of the city.