Spain Hotel Market, Share, Forecast 2022-2027

Spain Hotel Market will reach US$ 18.07 Billion by the end of the year 2027. Tourism plays a vital role in Spain's economy. The country has evolved into one of the top tourist destinations globally, reflecting on its hotel industry's evolution in recent years. Spain hotels provide a wide variety of demand generators. Its excellent hospitality infrastructure and the highly professionalized tourism sector, in general, have made Spain one of the most significant visitor destinations in the world. According to our research, Spain welcomed more than 80 million international tourists annually in recent years 2021.

Spain's hotel industry is expected to grow with a CAGR of 38.5% from 2021 to 2027

Spain has many international and domestic hotel brands and hotel groups. Domestic and international hotel chains have identified the appeal of expansion in the Spanish market, which has led to a more significant presence of chains in recent years. Spain has several hotel chains: NH Hotel and Melia, Iberostar Hotels & Resorts, Riu Hotels & Resorts, and Barceló Hotel Group. Meliá Hotels International, headquartered in Palma region de Mallorca (Balearic Islands), is the leading Spanish hotel chain by revenue and number of rooms worldwide.