STR & MAGMA: Spanish hotel sector still booming despite upcoming challenges
Thanks to strong performance growth in several markets, Spain's hotel industry has seen a surge in investment interest despite the political situation in Barcelona, according to STR and Magma Hospitality Consulting. "Investment into Spain's hotel sector has been largely driven by strong international tourism demand, even during the financial crisis," said Albert Grau, founding partner of Magma. "Increasing holiday tourism, as well as 'bleisure' travel, have set the market up for numerous development opportunities, with several operators currently working to improve their products and services to meet this increasing demand."