Read us | Listen to us | Watch us | Join Live Events | Turn Off Ads | Live |

Click on your language to translate this article:

Afrikaans Afrikaans Albanian Albanian Amharic Amharic Arabic Arabic Armenian Armenian Azerbaijani Azerbaijani Basque Basque Belarusian Belarusian Bengali Bengali Bosnian Bosnian Bulgarian Bulgarian Catalan Catalan Cebuano Cebuano Chichewa Chichewa Chinese (Simplified) Chinese (Simplified) Chinese (Traditional) Chinese (Traditional) Corsican Corsican Croatian Croatian Czech Czech Danish Danish Dutch Dutch English English Esperanto Esperanto Estonian Estonian Filipino Filipino Finnish Finnish French French Frisian Frisian Galician Galician Georgian Georgian German German Greek Greek Gujarati Gujarati Haitian Creole Haitian Creole Hausa Hausa Hawaiian Hawaiian Hebrew Hebrew Hindi Hindi Hmong Hmong Hungarian Hungarian Icelandic Icelandic Igbo Igbo Indonesian Indonesian Irish Irish Italian Italian Japanese Japanese Javanese Javanese Kannada Kannada Kazakh Kazakh Khmer Khmer Korean Korean Kurdish (Kurmanji) Kurdish (Kurmanji) Kyrgyz Kyrgyz Lao Lao Latin Latin Latvian Latvian Lithuanian Lithuanian Luxembourgish Luxembourgish Macedonian Macedonian Malagasy Malagasy Malay Malay Malayalam Malayalam Maltese Maltese Maori Maori Marathi Marathi Mongolian Mongolian Myanmar (Burmese) Myanmar (Burmese) Nepali Nepali Norwegian Norwegian Pashto Pashto Persian Persian Polish Polish Portuguese Portuguese Punjabi Punjabi Romanian Romanian Russian Russian Samoan Samoan Scottish Gaelic Scottish Gaelic Serbian Serbian Sesotho Sesotho Shona Shona Sindhi Sindhi Sinhala Sinhala Slovak Slovak Slovenian Slovenian Somali Somali Spanish Spanish Sudanese Sudanese Swahili Swahili Swedish Swedish Tajik Tajik Tamil Tamil Telugu Telugu Thai Thai Turkish Turkish Ukrainian Ukrainian Urdu Urdu Uzbek Uzbek Vietnamese Vietnamese Welsh Welsh Xhosa Xhosa Yiddish Yiddish Yoruba Yoruba Zulu Zulu

Spain tourism sector faces consolidation – Barcelo

0c_148
0c_148
Written by editor

MADRID – Spain’s tourism sector will face further consolidation as structural problems and sharp falls in numbers of new visitors hit earnings, the co-chairman of the country’s third largest hotel gro

MADRID – Spain’s tourism sector will face further consolidation as structural problems and sharp falls in numbers of new visitors hit earnings, the co-chairman of the country’s third largest hotel group said.

“The sun and beach model isn’t exhausted, but with low profitability, companies are increasingly less able to act and, in the long term, we will pay,” Grupo Barcelo’s Simon Pedro Barcelo said in an interview in Expansion on Tuesday.

The number of tourists visiting Spain dropped 15.9 percent in February compared to a year earlier, the sharpest fall since the global economic crisis began.

Falling revenues in what is Spain’s second-largest industry would lead to consolidation among some hotel chains, he said.

“Medium-sized companies based in Spain of 15 to 20 hotels will have serious problems and will be obliged to look to the larger chains,” Barcelo said.

Shares in Spain’s major listed hotel groups rose sharply in early trade.