800 hotel projects underway in Spain
28 August, 2024Spain entered 2023 on the world podium of hotel investment exceeding 4.2 billion, and in the first six months of the year reached 1,535 million euros representing a growth of 18%. This volume of investment translates into new projects, repositionings and changes in use.
According to data from the consulting firm EY, there are at least 800 establishments (more than 76,800 rooms) set to open their doors in the coming years, with 47% in the course of 2024 (some already having done so). 2024 will see at least 376 hotel openings, some of which have already taken place.
Data shows that 216 of these are new projects, 147 are repositionings and 14 are changes in use or other. By region, Andalusia, the Valencian Community and Catalonia will have the most openings this year. By category, mostly 4-star hotels are set to open (165), followed by 3-star (52), 5-star (45) and luxury accomodation (15). There are 54 other identified hotels with no defined category.