Marriott increases its commitment to expanding in Spanish territory, with its main focus on the luxury sector.
David Marriott has taken the opportunity to visit Madrid, interested in the significant investment being made in the capital, from the already iconic JW Marriott Hotel Madrid, Santo Mauro, The Luxury Collection, and The Madrid EDITION, to the addition of the centenary Hotel Palace to the hotel portfolio, being the second Luxury Collection in the city, the recent renovation of the Palacio del Retiro, Autograph Collection, and the acquisition of the new property of the Millenium group, located on Zorrilla Street, behind the Congress of Deputies, which will complete the luxury portfolio as the next Autograph Collection.
David Marriott, Chairman of the Board of Directors of Marriott International, the world’s largest hotel company in terms of hotel assets and geographic presence, with nearly 8,900 properties in 141 countries and more than 30 brands, met on his first official visit to Madrid with Antonio Catalán, President of ACHM Hotels by Marriott, the President of the Community of Madrid, Isabel Díaz Ayuso, and the Mayor of the capital, José Luis Martínez Almeida. The meeting took place at the Palacio de Cibeles, a historic building in the Jerónimos neighborhood that houses the municipal offices of the Madrid City Council. The Councilor for Tourism, Almudena Maíllo, also joined this meeting to confirm that Marriott’s interest in Madrid is key, as the group’s investment in hotel assets focused on the luxury niche exceeded 601 million euros in 2023, doubling its commitment to this sector where the offer exceeds 500 euros per night.
The key to this investment is the estimated high occupancy rate throughout the year, thanks to the 172 million loyal customers of the Marriott Bonvoy program.
Madrid is committed to quality and sustainable tourism, which has surpassed pre-pandemic profitability figures, with an increase of 24.2% compared to 2019, raising total tourism spending to 16.675 billion euros. It boasts of being the only autonomous community where the average length of stay has increased from 5 to 5.8 days. The attractions of this city are undeniable. The charm of its streets, its history, the cultural and gastronomic offer, the events, the concentration of the most important museums in Europe, the climate, and the quality of life make it one of the most interesting cities for tourism. In a short period, Madrid has become the main focus of attention for international hotel companies, thanks to the increase in American and Asian tourists.
Luxury tourism entails an evident improvement in the quality of services offered, which not only affects the room rate in hospitality but also allows the proliferation of new businesses created to generate interest among travelers who come to Madrid for its tourist attractions and return for its undeniable charm, which has a direct impact on the increase in spending per visitor.
