The luxurious hotel market has experienced in the last years a notable development in terms of the number of five-star hotels, from 112 in year 2000 to 180 in September 2004, according to a study by the consulting firm DBK. The five-star hotels invoiced 1.2 billion Euros in 2004 with a growth close to 10% with respect to the previous year. This trend will be maintained in the medium term in a setting where new hotels will continue to be developed, with many in the golf, health or meeting sector.
The DBK study also indicates that in September 2004, 180 five-star hotels were operating with a total of 29,112 rooms, putting in operation 68 new hotels since the year 2000. Andalusia with 40 hotels, is the region with the largest number of hotels opened in September 2004, followed by the Canary and Baleary Islands respectively, with 30 and 26 hotels. However, Canary Islands is the community with the highest number of rooms, a total of 7,480 and 5,747 in Andalusia and 4,012 in Madrid.
According to the study, the clear orientation towards the sun and beach sector explains that 54% of the luxurious hotels (98 hotels) were in the coast, being the segment that has shown the highest dynamism in the last years. On the other hand, 63 were urban hotels with the rest in other locations. Of the 180 five-star hotels operating in September 2004, 28 has a golf course and had a clear orientation toward this sport, while 87 had spa facilities.
Evolution of the business. The evolution of the business has been another aspect treated by the DBK study. According to the consulting firm, in the year 2003 and 2004, the business volume of the five-star hotels has increased a 9.5% and 9.8% respectively, giving place to figure of some 1.2 billion Euros in 2004. This evolution sees the increment in the offer and the reactivation of the nightstays in this type of hotels, both Spanish and foreign-owned hotels. By areas, Canary islands has close to 25% of the total business volume, the community who, in addition, experienced a positive evolution in the last years while Madrid and Catalonia absorbed close to 21% and 19.5% respectively.
Forecasts. The forecasts for the luxurious hotel sector in the next years is relatively optimistic, referring to the construction of new hotels. According to consulting firm, the luxurious hotel sector will experienced a clear expansion, given that in September 2004, more than a hundred projects were running, with the opening of close to 75 new hotels to be opened before the end of 2007. It is forecasted that at the close of 2005, the luxurious hotels offer will increase up to 225 hotels, with close to 35,000 rooms, while in 2007, it will reach 255 hotels with a total of 39,000 rooms. Andalusia is the region with the highest number of hotels to be constructed in the period from September 2004 â