Forecast: Turnover of Hotels in Spain

The turnover of hotels in Spain showed significant growth from 2013 to 2019, with the highest year-on-year increase in 2015 at 10.79%. However, the industry faced a dramatic decline in 2020 due to the COVID-19 pandemic, with turnover plummeting by 71.02%. Recovery began in 2021 with a 131.27% year-on-year increase, and by 2023, the turnover reached 27.42 billion Euros, with a 20.91% year-on-year rise. The industry has exhibited an average annual growth rate (CAGR) of 3.8% over the last five years. From 2024 onwards, the forecast predicts steady growth, with a 5-year CAGR of 2.4% and an overall growth rate of 12.58% by 2028.

Future trends to watch for:

• The impact of digital transformation and integration on hotel operations
• Changes in traveler preferences towards sustainable and experience-based stays
• The influence of global economic conditions and potential new travel disruptions
• Growth in domestic tourism and mid-range hotel segments