[1/5] A swimming pool is seen at the top of Hyatt's Thompson Madrid Hotel, overlooking central Madrid, Spain, June 13, 2023. RISING ROOM RATESThe arrival of luxury hotels has marked a new peak in room rates. "We're seeking to capture the highest-spending international tourists," said Madrid's tourism director, Luis Martin. Employment in Madrid's tourism sector has grown by 15% since 2019, compared with 5.4% nationally. "The Spanish tourism sector has always tried to compete with other destinations on low prices," he said.

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Persons: Hyatt's, Violeta Santos Moura, Santo Mauro, Richard Brekelmans, ”, Carlos Erburu, Thompson, Antonio Catalan, Alejandro Pitashny, Luis Martin, Jose Maria Martinez, Corina Pons, Belen Carreño, Charlie Devereux, Hugh Lawson Organizations: Madrid Hotel, REUTERS, Violeta Santos Moura MADRID, Hotels, Puerta del Sol, Dior, Marriott, Santo, Santo Mauro Palace, Westin, Ritz, Universal Music, Southern, Madrid, Colliers, Hyatt Hotels Corp, Reuters, Robuchon, Michelin, Airlines, Air, Thomson Locations: Madrid, Spain, Europe, Paris, London, Milan, Puerta del, Southern Europe, Barcelona, United States, Rome, Argentine, Iberia, America, Air China, China, Spanish