Spain Hospitality Market Introduction and Overview
According to SPER Market Research, the Spain Hospitality Market is estimated to reach USD 35.8 billion by 2033 with a CAGR of 3.39%.
The report includes an in-depth analysis of the Spain Hospitality Market, including market size and trends, product mix, applications, and supplier analysis. Hospitality is defined as the relationship between a host and a guest. The procedure entails the host welcoming the guest in exchange for some sort of goodwill, as well as dealing with factors like as service provision and entertainment. Hospitality is part of the service industry, a tertiary sector of the economy that includes food and beverages, lodging, travel, theme parks, hotels, and event planning, among other things.
- Meliá, Spain's largest hotel group and Europe's third largest hotel group, expanded its luxury brands globally in December 2023, with one out of every three scheduled pipeline openings under its luxury brands. From Europe, Africa, and Central America to the world's most enthralling destinations, Spain's foremost hotel group delivers its Spanish hospitality to every corner of the planet, with each development delivering luxurious experiences sustainably.
- In November 2023, Hotelbeds, an HBX chain subsidiary, signed a strategic distribution partnership with Barceló, a luxury hotel chain headquartered in Barcelona, Spain. The strategic distribution deal broadened Hotelbeds' accommodation offering and expanded the reach of the luxury hotel group's Barceló brand across Europe, the Mediterranean, and Africa, providing additional opportunities for tourists. Barceló's partnership with Hotelbeds includes 130 of its properties from 15 countries to Hotelbeds' hospitality preferred portfolio.
Market Opportunities and Challenges
Opportunities-
- Expanding Travel Industry: Spain's tourism industry, which is one of the most sought-after in the world, is the main driver of the country's hospitality market. Every year, millions of tourists go to Spain because of its varied landscapes, historical sites, and rich cultural legacy. These features include lively cities like Barcelona and Madrid as well as gorgeous islands and coastal locations. A significant demand for a range of hospitality services, including as hotels, resorts, and vacation rentals, has been generated by the steady influx of foreign tourists as well as the robust domestic tourism.
Challenges- There are various obstacles facing the Spanish hospitality market. Profitability has been stretched by rising operational costs brought on by inflation and rising energy prices. Particularly in the wake of the epidemic, labour shortages make it challenging for companies to meet rising demand during busy times. Overtourism in well-known locations like Barcelona and Mallorca results in legal limitations that have an effect on income. Adapting to eco-friendly practices and sustainability laws also increases pressure. Technology investment must continue due to the growing trend towards digitalisation and the changing expectations of consumers for individualised experiences.
Market Competitive Landscape
The hotel business in Spain is comprised of both domestic and international players, resulting in a consolidated market. Key Market Players are Melia Hotels International, Barcelo Hotels International, Eurostars Hotel Company, Marriott International, NH Hotel Group, H10 Hotels, Accor Hotels, Wyndham Hotels Worldwide, Thomas Cook, IHG.
Scope of the Report:
| Report Metric | Details |
| Market size available for years | 2020-2033 |
| Base year considered | 2023 |
| Forecast period | 2024-2033 |
| Segments covered | By Type, By Segment
|
| Regions covered | Northern Spain, Eastern Spain, Southern Spain, Central Spain
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| Companies Covered | Melia Hotels International, Barcelo Hotels International, Eurostars Hotel Company, Marriott International, NH Hotel Group, H10 Hotels, Accor Hotels, Wyndham Hotels Worldwide, Thomas Cook, IHG.
|
COVID-19 Impact on Spain Hospitality Market
Governments all across the world placed limitations on internal and international travel in 2020, which reduced demand for the services provided by these establishments and caused a significant restraint on the hospitality business. The pandemic had a detrimental effect on businesses in 2020 and 2021. National governments' efforts to prevent the transmission have led to a drop in economic activity and the 'lock down' of some countries. Nevertheless, given that this was a "black swan" incident and unrelated to enduring or underlying issues with the market or the global economy, it is anticipated that the hospitality sector will recover from the shock over the course of the forecast period.
Key Target Audience
- Tourists and Travelers
- Business Travelers
- Luxury and Boutique Hotel Guests
- Hospitality Investors and Developers
- Online Travel Agencies (OTAs) and Tour Operators
- Event and Wedding Planners
- Eco-conscious Travelers
Our in-depth analysis of the Spain Hospitality Market includes the following segments:
| By Type: | Chain HotelsIndependent Hotels |
| By Segment: | Service ApartmentsBudget and Economy HotelsMid and Upper Mid-scale HotelsLuxury Hotels |
| By Region: | Northern SpainEastern SpainSouthern SpainCentral SpainOthers |
Key Topics Covered in the Report
- Spain Hospitality Market Size (FY’2024-FY’2033)
- Overview of Spain Hospitality Market
- Segmentation of Spain Hospitality Market by Type (Chain Hotels, Independent Hotels)
- Segmentation of Spain Hospitality Market by Segment (Service Apartments, Budget and Economy Hotels, Mid and Upper Mid-scale Hotels, Luxury Hotels)
- Statistical Snap of Spain Hospitality Market
- Expansion Analysis of Spain Hospitality Market
- Problems and Obstacles in Spain Hospitality Market
- Competitive Landscape in the Spain Hospitality Market
- Impact of COVID-19 and Demonetization on Spain Hospitality Market
- Details on Current Investment in Spain Hospitality Market
- Competitive Analysis of Spain Hospitality Market
- Prominent Players in the Spain Hospitality Market
- SWOT Analysis of Spain Hospitality Market
- Spain Hospitality Market Future Outlook and Projections (FY’2024-FY’2033)
- Recommendations from Analyst
1. Introduction
1.1. Scope of the report
1.2. Market segment analysis
2. Research Methodology
2.1. Research data source
2.1.1. Secondary Data
2.1.2. Primary Data
2.1.3. SPER’s internal database
2.1.4. Premium insight from KOL’s
2.2. Market size estimation
2.2.1. Top-down and Bottom-up approach
2.3. Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis
4.1.1. Drivers
4.1.2. Restraints
4.1.3. Opportunities
4.1.4. Challenges
4.2. COVID-19 Impacts of the Spain Hospitality Market.
5. Market variable and outlook
5.1. SWOT Analysis
5.1.1. Strengths
5.1.2. Weaknesses
5.1.3. Opportunities
5.1.4. Threats
5.2. PESTEL Analysis
5.2.1. Political Landscape
5.2.2. Economic Landscape
5.2.3. Social Landscape
5.2.4. Technological Landscape
5.2.5. Environmental Landscape
5.2.6. Legal Landscape
5.3. PORTER’s Five Forces
5.3.1. Bargaining power of suppliers
5.3.2. Bargaining power of buyers
5.3.3. Threat of Substitute
5.3.4. Threat of new entrant
5.3.5. Competitive rivalry
5.4. Heat Map Analysis
6. Competitive Landscape
6.1. Spain Hospitality Market Manufacturing Base Distribution, Sales Area, Product Type
6.2. Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in Spain Hospitality Market
7. Spain Hospitality Market, By Type (USD Million) 2020-2033
7.1. Spain Hospitality Market Size, Share and Forecast, By Type, 2020-2026
7.2. Spain Hospitality Market Size, Share and Forecast, By Type, 2027-2033
7.3. Chain Hotels
7.4. Independent Hotels
8. Spain Hospitality Market, By Segment (USD Million) 2020-2033
8.1. Spain Hospitality Market Size, Share and Forecast, By Segment, 2020-2026
8.2. Spain Hospitality Market Size, Share and Forecast, By Segment, 2027-2033
8.3. Service Apartments
8.4. Budget and Economy Hotels
8.5. Mid and Upper Mid-scale Hotels
8.6. Luxury Hotels
9. Spain Hospitality Market Forecast, 2020-2033 (USD Million)
9.1. Spain Hospitality Market Size and Market Share
10. Spain Hospitality Market, By Region, 2020-2033 (USD Million)
10.1. Spain Hospitality Market Size and Market Share By Region (2020-2026)
10.2. Spain Hospitality Market Size and Market Share By Region (2027-2033)
10.3. Northern Spain
10.4. Eastern Spain
10.5. Southern Spain
10.6. Central Spain
10.7. Others
11. Company Profile
11.1. Melia Hotels International
11.1.1. Company details
11.1.2. Financial outlook
11.1.3. Product summary
11.1.4. Recent developments
11.2. Barcelo Hotels International
11.2.1. Company details
11.2.2. Financial outlook
11.2.3. Product summary
11.2.4. Recent developments
11.3. Eurostars Hotel Company
11.3.1. Company details
11.3.2. Financial outlook
11.3.3. Product summary
11.3.4. Recent developments
11.4. Marriott International
11.4.1. Company details
11.4.2. Financial outlook
11.4.3. Product summary
11.4.4. Recent developments
11.5. NH Hotel Group
11.5.1. Company details
11.5.2. Financial outlook
11.5.3. Product summary
11.5.4. Recent developments
11.6. H10 Hotels
11.6.1. Company details
11.6.2. Financial outlook
11.6.3. Product summary
11.6.4. Recent developments
11.7. Accor Hotels
11.7.1. Company details
11.7.2. Financial outlook
11.7.3. Product summary
11.7.4. Recent developments
11.8. Wyndham Hotels Worldwide
11.8.1. Company details
11.8.2. Financial outlook
11.8.3. Product summary
11.8.4. Recent developments
11.9. Thomas Cook
11.9.1. Company details
11.9.2. Financial outlook
11.9.3. Product summary
11.9.4. Recent developments
11.10. IHG
11.10.1. Company details
11.10.2. Financial outlook
11.10.3. Product summary
11.10.4. Recent developments
11.11. Others
12. Conclusion
13. List of Abbreviations
14. Reference Links
SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.
The report is based on in-depth qualitative and quantitative analysis of the Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.
