Record hotel investment

The hotel construction industry faces a record 2024 with a growth of over 60 per cent between January and March, reaching 412 works worth nearly €2 billion, according to DoubleTrade data, which reports that Malaga province sees the main investments in Spain, including two projects in Marbella and a hotel in Casares, with a total investment of €1.2 billion.

This is revealed by data analysed by the analytical solutions technology firm DoubleTrade, which predicts an exponential increase in the hotel supply in order to respond to the growing tourist demand in Spain.

“The enormous activity in hotel construction and refurbishment at the beginning of this year is remarkable and could be a foretaste of a record year,” said Xavier Piccinini, managing director of DoubleTrade Spain.

Three major hotel projects are among the most significant projects: according to DoubleTrade, the Villa Padierna Group intends to build a high-end resort and hotel complex to be called ‘Villa Padierna Beach Resort’ and valued at €650 million.

The Malaga coast is the main winner in this wave of investment, as the second most expensive project is the refurbishment of a hotel in Casares for over €400 million, while the third project is the construction of another hotel in Marbella for €200 million.