Spain Hospitality Market Size, Share, and COVID-19 Impact Analysis, By Type (Chain Hotels and Independent Hotels), By Segment (Service Apartments, Budget & Economy Hotels, Mid & Upper Mode Scale Hotels, and Luxury Hotels), and Spain Hospitality Market Insights, Industry Trend, Forecasts to 2033

Spain Hospitality Market Insights Forecasts to 2033

• The Spain Hospitality Market Size was valued at USD 26.02 Billion in 2023.
• The Spain Hospitality Market Size is Growing at a CAGR of 3.08% from 2023 to 2033
• The Spain Hospitality Market Size is Expected to reach USD 35.25 Billion by 2033

The Spain Hospitality Market Size is anticipated to Exceed USD 35.25 Billion by 2033, Growing at a CAGR of 3.08% from 2023 to 2033. The Growing number of hotels/restaurants in the market and favorable government policies & regulations are driving the growth of the hospitality market in the Spain.     

Market Overview

The hospitality market refers to the businesses and services which includes lodging, food & beverage, travel, and recreation that cater to people’s needs while they are away from home. The term hospitality means the way of people treat others. It refers to the friendly and generous treatment of guests or visitors, encompassing both the act of welcoming and providing services like accommodation, food, and entertainment. The increasing demand for personalization in the tourism and hospitality industry by the consumers is changing the landscape of hospitality. Furthermore, promoting sustainability and adoption of smart technologies for improving guest experience which includes virtual check-in, smart room controls, or energy management is escalating the market growth as the trend of sustainability is providing opportunities for businesses to enhance their reputation and attract environmentally conscious customers.

Report Coverage

This research report categorizes the market for the Spain hospitality market based on various segments and regions and forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the Spain hospitality market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the Spain hospitality market.

Driving Factors

The growing number of hotels/restaurants including luxury and high-end hotels are significantly responsible for propelling the hospitality market. The implementation of government policies for supporting the hospitality industry such as financial relief, modernization initiatives, and sustainability goals promoting market growth. Furthermore, the increasing tourism and demand for personalized experiences with the growing significance of sustainability and experiential travel are the factors promoting the hospitality market. The expansion of both domestic and international tourism surges the need for hospitality to provide services and amenities to tourists, thereby driving the market demand.

Restraining Factors

The strict regulations for international tourists as well as the lack of trained & skilled professionals are hindering the market. Further, the political instability and geopolitical tensions may negatively affect the market growth.

Market Segmentation

The Spain hospitality market share is classified into type and segment.

• The chain hotels segment is dominating the Spain hospitality market with the largest market share and is expected to grow at a significant CAGR during the predicted timeframe.

The Spain hospitality market is segmented by type into chain hotels and independent hotels. Among these, the chain hotels segment is dominating the Spain hospitality market with the largest market share and is expected to grow at a significant CAGR during the predicted timeframe. The total number of chain hotels in Spain increased by 10% from 2021, bringing the total to 2,780 hotels along with the continued expansion of branded hotels across the country. The rising travel & tourism as well as the integration of technology in hotel operations is propelling the market growth in the chain hotels segment.

• The mid & upper mode scale hotels segment is dominating the Spain hospitality market and is anticipated to grow at a significant CAGR during the forecast period.

The Spain hospitality market is segmented by segment into service apartments, budget & economy hotels, mid & upper mode scale hotels, and luxury hotels. Among these, the mid & upper mode scale hotels segment is dominating the Spain hospitality market and is anticipated to grow at a significant CAGR during the forecast period. Midscale hotels provide a comfortable stay with decent services and amenities while upper-midscale hotels provide a slightly higher level of service and amenities. The growing emphasis on guest experience and investment in amenities and services are driving the market in the mid & upper mode scale hotels segment.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the Spain hospitality market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• Melia Hotels International
• Barcelo Hotels International
• Eurostars Hotel Company
• Marriott International
• NH Hotel Group
• H10 Hotels
• Accor Hotels
• Wyndham Hotels Worldwide
• Thomas Cook
• IHG
• Others

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Recent Developments

• In July 2024, IHG Hotels & Resorts (IHG), one of the world’s leading hotel companies, announced the signing of four new properties in Spain, adding over 500 rooms across key mature markets in desirable destinations.

• In May 2024, Meridia announced the successful acquisition of a hotel strategically situated on the northern coast of Ibiza, in Cala Portinatx, through its Fund Meridia V. This deal marks a significant milestone for Meridia V, reaffirming its commitment to the Spanish hospitality sector. The acquisition of former Hotel Presidente presents an exciting opportunity for Meridia to enter one of Spain's most desirable tourism destinations.

• In December 2023, Meliá Hotels International, Spain’s leading hotel group and the third largest in Europe, has announced the ambitious global expansion of its luxury brands, with one in three of its pipeline openings within its luxury portfolio.

Market Segment

This study forecasts revenue at Spain, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the Spain hospitality market based on the below-mentioned segments:

Spain Hospitality Market, By Type

• Chain Hotels
• Independent Hotels

Spain Hospitality Market, By Segment

• Service Apartments
• Budget & Economy Hotels
• Mid & Upper Mode Scale Hotels
• Luxury Hotels