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PKF hotelexperts

hospitality, tourism & leisure consulting

PKF hotelexperts
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hospitality professionals

HTLroundtable iberian peninsula - snapshot 2015

19 Apr 2015

The Westin Palace Madrid, 14 April 2015

During the annual HTLroundtable iberian peninsula, which was hosted by Michael Widmann and Andreas Martin from PKF hotelexperts Vienna, around 25 hotel and tourism professionals discussed the performance of the various city and resort destinations on the Iberian Peninsula. Participants described the hotel market in the Spanish capital of Madrid in recent years as "horrible", especially when it comes to the overall achieved average daily rates in landmark properties such as the historical Westin Palace, which are considered to be low compared to other European capital cities. The Palace opened in 1912 and was, at that time, the largest hotel in Europe.

There was no doubt among attendees that Barcelona remains an "island of heaven", with outperformers like the W Barcelona, which, as a result of the redevelopments initiated by the Olympic summer games in Barcelona in 1992, opened in 2009 as an expansion of the port of Barcelona. Both hotels (including the Westin Palace) are managed by Starwood Hotels & Resorts.

Looking at resort destinations, it was noted that both the Balearic and the Canary Islands took advantage of the ongoing political instability in North Africa and outperformed other resort destinations in the Mediterranean Sea region. A new congress centre of 40.000 sq m will soon be opened in Palma de Mallorca which will increase the islands attractiveness as a MICE destination and could well compete with congress centres in cities like Berlin, Vienna or even Barcelona!

Santiago Gonzales, partner at PKF Attest, the local PKF tax consulting and auditing practice with eight offices in Spain, confirmed the slow economic recovery in the country which also continues to suffer from high unemployment rates. Some regions do take advantage of the good traffic infrastructure with modern airports and efficient speed train connections

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