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5 Keys Madrid vs Barcelona 2018

From the tourist point of view, Madrid closed 2018 with its historic record of both overnight stays (19.7 million) and hotel occupancy (76.8%), while Barcelona falls for the first time in 8 years due to slack demand in the first 9 months of 2018. The uptick in tourism in the last quarter suggests that the situation is returning to normal.

The hotel supply in Madrid is adapting to the increase in demand, with noteworthy refurbishments and openings,especially in the luxury sector, and the entry of major international brands. On the other side, Barcelona center witnessed the decrease in overnight stays of the national and luxury customer, while the international one remained strong overcoming the barrier of 20 million overnight stays.

The tourism sector faces 2019 with certain uncertainties derived from the possible changes of state and municipal government that can alter the strategies and regulation of the sector.

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Miguel Vázquez

Managing Partner


Miguel is Managing Partner of Hotels Department at Colliers International Spain. He was a founding partner of irea and Director of the Hotel Division until March 2018, when irea joined Colliers International. He is held in high regard in the hotel sector thanks to his specialist knowledge and in-depth financial approach. He focuses on offering advice to investment funds, hotel chains and hotel owners.

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Laura Hernando

Managing Director


Laura Hernando is Managing Director of the Hotels Department at Colliers International Spain. She was  partner of irea from January 2017, when she was appointed to partner after more than ten years of professional career at the firm, until March 2018 when irea joined Colliers International. She specialises in advising on hotel sales, as well as on the sale and purchase of debt portfolios secured by hotel assets and company sales. She also has experience in structuring financing for the acquisition and development of hotels, in financial restructuring for hotel and real estate groups and in strategic consultancy for companies with interests invested in the hotel sector, including the negotiation of management contracts with hotel chains.

She began her career as an analyst in the mergers and acquisitions department at Atlas Capital Close Brothers. Laura joined the irea Hotels division in 2005.

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