The hotel industry is gaining ground in the transformation of buildings
8 October, 2025Property restructuring in Spain continues to advance strongly and the hotel industry is consolidating its position as one of the main leaders in this process. According to the CBRE report for the first half of 2025, 26% of the transformations have been oriented towards hotel use, compared to 35% for the same period in 2024.
In total, 137,000 m² have been transformed, with an investment of close to €200 million, 1% more than the previous year. Although the number of operations has fallen to 20 (compared to over 30 in 2024), the area converted has increased slightly. The consultancy underlines that the search for higher profitability is driving these changes, especially the shift from offices to hotels, where revenues in Madrid can double those obtained in office properties.
Among the projects highlighted are the future Four Seasons in Seville, with an €80 million investment and the new Mercer Hoteles in Madrid which will refurbish a protected historic building to open a 5-star Grand Luxury hotel.
Since 2015 CBRE has identified more than 270 changes of use, with over 200,000 m² of office space converted into hotels in the last decade.