Invest in Spain

Lauren González, Directora del Hotel Somnio Barcelona

1. Somnio opened its first hotel in a Spanish city in Barcelona. What were Barcelona’s and Spain’s attractions?
We studied the market quite extensively to decide which city to start in. The growth in tourism in Barcelona in recent years is impressive. The occupancy rates are very high (77.7% in 2006). The city is full of culture, art and beautiful architecture. It’s a great place to visit, and an even better place to live and open a business.

2. What opportunities have you detected in the Spanish market?
There is definitely a high demand for quality budget accommodation. With the advent of low-cost airlines, there are more and more budget travelers coming to Spain from all parts of Europe. These clients, while on a budget, have discerning tastes and seek nice hostels with good service. There is a large gap in quality between inexpensive hostels and expensive hotels in Spain. We aim to provide a product that bridges this gap.

3. What is the difference between Somnio and other companies in the hotel business?
Somnio Hostels are clean, comfortable, and run by friendly knowledgeable staff. We’ve managed to strike a balance between affordability and high quality. You don’t have to cut out service or standards of cleanliness to keep costs low. Our product is simple but nice.

4. What projects does Somnio have in Spain in the medium to long term?
We’d like to open at least one more hostel in Barcelona before moving on to another city in Spain, like Madrid or Valencia. So many people travel around to the great destinations in Spain – Sevilla, Granada, Bilbao, Toledo. We’d like to have a presence in all of those places. Our aim is to focus our efforts in Spain until the brand is well known and then expand to other European cities.

5. What advice would you give to companies that are looking to Spain for the growth of their business?
There are a lot of resources available to entrepreneurs and foreign investors in Spain and Cataluña. Organizations like CIDEM and Barcelona Activa provided a lot of information and contacts to help us get started. The beginning of any business requires a lot of patience and determination, but ultimately, the hard work pays off.