Another amazing year lying ahead for Spanish Hospitality?
#hospitalityoutlook #outlook2024 #spain #españa
Bookings all over Spain already
up by 15% compared to 2023!
After a surge in travelers, bookings,
and room rates in 2023,
the global fair FITUR closed
its doors a couple weeks ago,
and the biggest players have
announced ambitious expansion
plans for this year. #fitur2024
Below some highlights from
the hotel conglomerates for 2024:
Meliá - The company reported
a net profit of 108M€
in the first nine months of 2023
(6% increase over pre-pandemic 2019).
They are expecting a 23% increase
in MICE business compared to 2022.
Meliá plans to open 4,000 rooms
and 20 additional assets
in the resort category.
They are focusing on expanding
in Albania for their international investments.
Barceló Group - Following two years
of remarkable results,
Barceló has earmarked 400M€
to acquire new assets
and upgrade existing properties
in 2024.
They plan to maintain the tendency
of opening between 23 and 25 hotels
a year. Barceló's international expansion
includes properties in Morocco, Cappadocia, Cabo Verde,
Zanzibar, Phuket, and the Maldives.
Also looking into projects in Bahrain,
Saudi Arabia, and Oman.
Riu Hotel Group - The family-owned
group, with 97 hotels in 21 countries, reported a record income of 3.6Bn€
in 2023 (24% increase over 2022).
Riu plans to add another resort
in Jamaica and two new properties
in Mauritius in May. They will also
open the Riu Plaza Chicago before
the end of 2024,while looking for additional locations in South Florida.
Palladium Hotel Group -
For the first time, the group
will incorporate nine luxury,
premium, and upscale brands
into its mostly resort-based portfolio, surpassing the 1Bn€ income mark in 2023.
After spending 100M€ on renovations
in 2023, more renovations are planned
for 2024, including the opening
of the Only You branded property in Seville. Palladium's international
expansion includes a 5* Only You
property in Venice and the debut
of the 3* 45 Times Square Hotel
in New York.
Sercotel - Celebrating its 30th
anniversary, Sercotel has 95
urban properties
in Spain and Andorra.
They are moving into the beach
resort sector and exploring
possibilities in the Balearic
and Canary Islands and the Costa del Sol.
With a successful 2023, billings of 125M€, plans to add between
12 and 15 hotels this year,
including up to 5 seaside resorts,
Sercotel is aiming for 160M€
in billings by the end of 2024.
They are currently focusing on rental, management, and franchise opportunities with independent owners
and small chains, with no plans
to expand into other countries for now.
MARCELA GILLMAN Sotheby's International Realty
Riyan Itani, ISHC Afrae Seddouki #offmarkethotels
Niko Lakovic Antonio Bianchini
Founder & CEO at OD Group
1wWell done kobe