Tourism has become one of the world's fastest-growing economic sectors due to the multiplier effects it has on other sectors. In recent decades, the global tourism industry has become one of the most important export industries, accounting for around 7% of the total export of goods and services. Currently, export revenues from international tourism are the 4th, behind fuel, chemicals and automotive products.
The significant growth in tourism clearly makes it one of the most important economic and social phenomena of the past century, and given major improvements in connections and transport, possibly this century too.
As for the hotel industry, this study shows that the current situation needs a change in a business model in which the owner only accepted leases with fixed payments. This traditionally and very fragmented sector will disappear soon, giving way to a new phase in which mergers, takeovers, buyouts and, in short, concentration in the sector is expected.
More specifically, the management model, belonging to international chains, is being increasingly applied in Madrid with the arrival of international funds associated with major international chains.
Strategically situated and continuously growing with modern infrastructures, communications, legal certainty, administrative simplicity, increasing numbers of tourists and business generation capabilities, conferences and events, Madrid is ready to receive major multinational hotel chains.
|The hotel industry Madrid 2010||1.04 MB|