The Barcelona hotel market has gained new impetus thanks to the strong interest in luxury, a haven for investors and a segment in which the city still has a ways to go. The latest operations in high-end assets have led the Catalan capital to lead investment in hotels in Spain so far this year, with between 400 and 500 million euros counting Barcelona city and its area of influence –a third of the total– , according to preliminary data from Colliers.
The 180 million euros that Blasson and Axa have paid for the Sofia hotel and the more than 220 million that the Saudi group Olayan has disbursed for the Mandarin have made Barcelona exceed the investment of all of 2021 in just six months (225 million euros). euros in seven operations). And, just as important as the quantities, the movement is also indicative of Barcelona's potential in the luxury product, which "is perceived very well," says Laura Hernando, director of hotels in Colliers.
The big international brands have always looked at Barcelona with interest, although their presence still does not correspond to the volume of foreign visitors and congressmen that the city moves, various voices from the sector agree. Now, the explosive recovery in tourism and, above all, the increase in profitability that establishments are obtaining have once again put the city in the eye of the main hotel companies.
Circumstances begin to add up. Despite the moratorium that prevents the opening of new establishments in the center and the high prices asked by the owners, the increase in profitability is making brands "willing to pay more for rent," says Bruno Hallé, managing partner of the Cushman's hotel division
There are conversations going on. Among the groups that have set their sights on Barcelona, the Emirati Sunset Hospitality stands out, which has just opened a hotel in Marbella under its Mett brand and is looking for options in the city, say sources in the sector, while Hyatt has expressed its desire to grow in the capital of Catalonia with some of its most emblematic banners. In fact, Blasson and the American hotel company are already working to upgrade the Sofia.
The board is like this, open, and it remains to be seen how that interest ends up being specified. “International brands in the luxury sector do not always have it easy to enter new destinations, they are slow processes because it is difficult for them to find their project”, with suitable assets that meet all the requirements, Hernando comments in this regard.
The InterContinental in Montjuïc (formerly Crowne Plaza), the conversion of the Skipper into a Sofitel (Accor group) or the Sonder in Paseo de Gràcia are some of the latest additions to the premium sector in the city. Barcelona will also have the first SLS hotel in Europe, which is scheduled to open next year in the Fòrum area, which will boost the destination and increase the total offer of luxury five-star beds. In total, Barcelona and its area currently have 4.9% of its offer in this segment.
