The city of Barcelona remains one of the most attractive areas for hotel investors in Spain, capturing 16% of the total national investment in 2025, only surpassed by the Canary Islands. This record figure occurs within a market context strictly limited by the Special Plan for Tourist Accommodation (PEUAT), approved in 2017.
“"Until 2015, hotel investments focused on the construction of new hotels. Since then, the focus has shifted to the purchase of hotel assets."
The Director General of the Barcelona Hotel Guild (Gremi d’Hotels de Barcelona), Manel Casals, explains that closing the market to new construction has caused existing hotel spaces to gain value, limiting the entry of new investors. This situation hinders the establishment of strategic luxury brands, such as Four Seasons, which could attract a higher quality tourist profile.
Although asset purchase is the main investment route, Casals emphasizes that a significant portion of the funds is allocated to the constant improvement and renovation of establishments. This permanent renovation generates continuous economic impact in the city, beyond the taxes generated by large transactions.
“"The goal is to have higher quality tourism, not just quantity. That is why hotel groups like Four Seasons being able to establish themselves here would help attract a profile of tourist who spends more. They are strategic brands."
