Luxury hotel fever: Which are the main countries that are investing in this category of accommodation?
In recent years, the hotel industry has experienced a boom in the construction of luxury hotels around the world. And although it is often assumed that these properties belong to local investors, the reality is that various countries that invest in this type of hotel also come into play.
According to a study by the World Travel and Tourism Council published by HostelTur, China is one of the leading countries in luxury hotel investment. With an ever-growing middle class, domestic tourism has increased significantly in recent years, and as a result, the hotel market has boomed, attracting the attention of local and foreign investors alike.
Another country that has seen an increase in investment in luxury hotels is the United States. In cities like New York, Miami, and Los Angeles, new upscale hotels are being built at a rapid pace. Many of these projects are initiatives by foreign investors seeking to capitalize on the growing market for superior tourism in that country.
On the other hand, in Europe, Spain also stands out as a country that has seen a large increase in hotel investment in recent years. Thanks to its warm climate and its beautiful beaches, this territory has become a popular tourist destination for travelers from all over the world. Countries like Russia and the United Kingdom are the main investors in the large luxurious hotels that are being built in Spain.
Last but not least, in the Middle East, the United Arab Emirates is another important destination for travelers looking for accommodations of a higher category, and that in the same way, in recent years has become the center of exclusivity, luxury and glamour. This has led to a large investment in the construction of luxurious hotels, especially in Dubai. Like China, many of these hotel projects are owned by local and foreign investors.
In conclusion, investment in luxury hotels is a global phenomenon that is only expected to increase with the passage of time. Its profitability has attracted investors from China to the United Arab Emirates, to the United States and Europe, who are capitalizing on the growing demand for luxury tourism around the world.
Sources consulted:
The countries that invest the most in luxury hotels.” Smart Travel News, January 10, 2022.
Top countries investing in luxury hotels.” Traveler ES, August 14, 2020.
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