2025-05-19-莱坊-Spain_Hotels_Snapshot_Q1_2025_2页_650kb

Hotels Snapshot Summary - Q1 2025

Core Content

This document provides an overview of the hotel and tourism sector in Spain for Q1 2025, highlighting key trends, investment figures, and market dynamics. It is based on research conducted by experts at Knight Frank Spain, drawing on real data and market trends to offer insights into the sector's performance and future outlook.

Main Points

Tourism in Spain

• Spain remains a top global tourist destination, currently ranked second in the world.
• In 2024, Spain recorded nearly 94 million foreign tourists, a 12.3% increase from 2019.
• For 2025, the World Travel & Tourism Council (WTTC) forecasts around 100 million foreign tourists.
• In the first months of 2025, 10.4 million foreign tourists were recorded, representing a 7% increase compared to the same period in 2024.

ADR and RevPAR Trends

• ADR (Average Daily Rate) for March 2025 increased by 4.9% compared to March 2024, with a 9.4% increase from March 2023.
• RevPAR (Revenue Per Available Room) for March 2025 rose by 5.4% compared to March 2024, and by 11.8% compared to March 2023.
• The number of hotel overnight stays decreased by 8.9% in March 2025 compared to March 2024, but increased by 18.8% from March 2023.

Investment Activity

• Hotel investment in Q1 2025 totaled €506 million, a significant drop from €660 million in Q1 2024.
• The majority of investments were in upscale hotels, with 4-star hotels accounting for 45% and 5-star hotels for 24% of the total.
• Barcelona accounted for nearly 30% of the total investment in Q1 2025, making it a key destination for the hotel and tourism sector.
• Madrid and Ibiza also saw notable investments, particularly in central areas and high-demand tourist spots.

Investor Profile

• Hotel operators (including two portfolios) accounted for 45% of the transactions.
• Management companies made up over 30% of the transactions.
• Vacation accommodation companies contributed around 15%.
• Investment was also concentrated in coastal cities and islands, such as Las Palmas (16%), Mallorca (12%), and Ibiza (6%).

Key Investment Deals

Investment by Province and Hotel Category

• Top provinces by investment in Q1 2025:

  • Granada
  • Ibiza
  • Las Palmas
  • Sevilla
  • Asturias
  • Mallorca
  • Madrid
  • Gerona

• Investment by hotel category:

  • The "Others" category includes establishments without a defined category or hostels.
  • Portfolios without a breakdown that include assets with multiple categories are not included.

Conclusion

The Spanish hotel and tourism sector continues to show resilience and growth, driven by a strong tourism model and attractive destinations. While investment in Q1 2025 saw a decline compared to the previous year, the focus on upscale hotels and key tourist areas indicates a sustained interest in the sector. The data underscores the importance of strategic investment and market positioning in maintaining Spain's global leadership in tourism.