Feb 12

Crisis doesn’t stop Spanish hotel industry

Spanish hotel industry doesn's stopSpanish hotel industry increased its benefits just a 0.2% in 2012. The global and local financial crisis was the main threat for the industry during the last 12 months. Remaining in the same way, the total amount of hotels opened in 2012 decreased a 4.2% (69 less compared to 2011). Nevertheless, the percentage of closures declined 25 points. Those are the main results of a study made by CBRE Hotels. The report concludes that Spanish hotel industry is stabilized and didn’t suffer important changes.

Despite difficulties, Spanish hotel owners turned crisis into a valuable opportunity: they weren’t able to open new business in 2012, so they invested in reform buildings they already owned. In fact, 55 hotels all over Spain were renovated in the last 12 months. Probably, this number will grow exponentially in 2013. According to hotel directors and owners, an upgraded hotel is more competitive.

This smart approach could help Spanish hotel industry to maintain its position as one of the most importants in the world. Till now, the economical situation didn’t stop the Spanish tourist sector.

Interested in weekly updates about Spanish MICE and tourist sector? Stay tunned with E&TB Group website and E&TB’s Group blog!

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