Press Release - May 2026

• Turnover in the hotels sector remained on a positive trend in 2025, reaching over €22 billion after growing 6.5%. Looking ahead to year-end 2026, a further increase is expected, albeit smaller, amid slowing momentum in economic activity and persistent international geopolitical tensions.

• The holiday segment generated most of the business, with a 68% share in 2025, although city hotels posted a more dynamic performance, up 8% year-over-year from 2024.

• INFORMA's DBK Sectoral Observatory recently published these insights in the 'Hotels' Sectoral Report.

Madrid, 21 May 2026.- According to INFORMA's (Cesce's subsidiary) DBK Sectoral Observatory—a leading provider of business, financial, sectoral, and marketing information in Spain and Portugal—activity in the hotels sector maintained its upward trajectory in 2025, reaching turnover of €22.15 billion. This represented an increase of 6.5%, after double-digit growth rates in 2023 and 2024. 

Thus, in 2025 the trend of gradual moderation in business growth continued, in a context in which demand grew at a slower pace and growth still relied to a large extent on higher prices. 

The number of travellers staying in hotels stood at 118.4 million, with growth near 2%, while overnight stays reached 366.7 million, up 1%. Demand therefore showed a more subdued trend than in previous fiscal years, with relatively better performance in inbound tourism. 

By segment, holiday establishments accounted for 68% of turnover, with revenue of €15.15 billion after growing 6%. Turnover at city establishments rose 8%, driven by premium tourism, the recovery of the MICE segment and lower seasonality, reaching €7.0 billion. 

Looking ahead to year-end 2026, forecasts point to further turnover growth near 4%, in an environment marked by an uncertain geopolitical situation, the European economic slowdown, sustained international demand and a greater business focus on higher-category establishments, which are less sensitive to changes in the economic situation and price movements.

From a supply perspective, in 2025 nearly 17,000 hotel establishments operated, up 0.4%, driven by growth in the number of hotels versus stable numbers of hostels. Total capacity stood at 1.95 million beds, 1% more than the previous year. 

The sector maintained a trend of gradually increasing concentration. In 2025, the top five chains held a combined market share of 26.2%, rising to 38.5% when considering the top ten, reflecting the advance of the leading operators. 

Data Synthesis, 2025