2017 was an exceptional year for tourism in Madrid, with RevPAR climbing a staggering +14.4%. Meanwhile, Barcelona managed to counterbalance the negative effects of the Catalan socio-political crisis, thanks to a strong first half of the year. Growth has been more moderate in Madrid during H1 2018, while RevPAR has been falling in Barcelona.
Madrid’s hotel supply has been increasing in quality, with 1,800 new rooms in the pipeline, half of which will be 5* or Luxury 5*. In Barcelona, the last hotels that were approved prior to the moratorium are now beginning to open for business.
Hotel investment was much greater in Madrid than in Barcelona during 2017. So far this year, investment in both cities has been focused on portfolio deals, while property acquisitions for conversion to hotel use are being slowed down by new planning regulations. Find out more about the 5 key areas of the hotel market in both cities.
5 Keys Madrid vs Barcelona 2017-2018
Date Published: 10/08/2018