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Barcelona hotel sector continues to attract investment

It would appear that the hotel business in Barcelona is one of the very few sectors that is still attracting investment and experiencing growth in the current difficult economic climate in Spain. The development of houses, offices and the construction sector in general has practically ground to a halt. However, investment continues into the hotels in Barcelona, albeit at a slower rate than some years ago. After a difficult time at the start of the global crisis, the hotels in Barcelona now seem to be managing the economic crisis better than many other businesses in Spain. By the end of 2011 eight new hotels will have opened in the Catalan capital including two five star establishments, three four stars and three in the three star category. Another twelve new hotels are planned for Barcelona next year and a further thirteen are planned for 2013. A report by consultancy company Global Bric has estimated that the value of transactions in the hotel sector in Barcelona for the last twelve months was around €135 million.

This continuing investment into the hotel sector in Barcelona is probably due to the excellent results that the tourism sector in this part of Spain has been experiencing recently, where visitor numbers continue to increase steadily. The president of the Hotel Association of Barcelona, Jordi Clos, believes that the addition of these new hotel rooms in the coming months will not create an oversupply problem for the hotel market in Barcelona. Mr Clos believes that, although the number of hotel rooms is increasing, so is demand and more and more tourists continue to choose to spend holiday time in the city. During the first six months of the year occupancy levels in the hotels of Barcelona reached 72 percent and the average price per room reached €104 per night.

A recent report by consultancy firm CB Richard Ellis on the hotel market in Spain maintains that currently there is only demand for the creation of new hotel capacity in the two main cities of Madrid and Barcelona. The report concludes that interest remains from international hotel chains who wish to enter the market in Spain especially in the two main cities.

This entry is filed under Barcelona Hotels.