PHG Hotels & Resorts: Overview and Position in the Spanish Hospitality Consulting Market PHG Hotels & Resorts is a boutique hotel consulting firm based in Madrid, Spain, established in 2009 by experienced hotel executives. The firm specializes in providing tailored consulting services to hotel owners, investors, and operators, both in Spain and internationally, including markets such as the UK, France, Portugal, the US, Latin America, and North Africa[1][2][3]. Key Features of PHG Hotels & Resorts • Boutique and Independent: PHG positions itself as the only independent boutique hotel consultancy in Spain, distinguishing itself from larger, generalist real estate or consulting firms[2][3]. • Senior Expertise: The firm’s partners and consultants have decades of hands-on hotel management and advisory experience, and do not delegate key work to junior staff. This ensures clients receive direct, senior-level attention throughout their engagement[1][2][3]. • Comprehensive Client Base: Clients include funds, family offices, independent owners, banks, REITs, insurance companies, and hotel operators[1][2][3]. • Range of Services: o Hotel transactions and leases o Operator and brand search & selection o Feasibility and market studies o Asset management o Strategic and business advisory throughout the hotel asset lifecycle[2][3] • Agility and Flexibility: PHG emphasizes its ability to quickly gather market intelligence and adapt to client needs, offering lower fees compared to larger competitors due to its lean structure[1][2]. • Industry Recognition: PHG is a member of the International Society of Hospitality Consultants (ISHC), and its founder, Ivar Yuste, is a Vice President of ISHC and a recognized expert in the Iberian hotel market[4][2][3]. Comparison with Other Hospitality Advisory Firms in Spain Feature PHG Hotels & Resorts Major Competitors (e.g., Horwath HTL, PKF Hospitality, Catella, HCI) Size & Structure Boutique, independent Larger, often global or multi-office firms Focus Pure hotel sector, owner/investor advisory Broader real estate, corporate finance, or multi-industry focus Senior Involvement Direct, hands-on Often a mix of senior and junior consultants Market Coverage Spain-centric, selective international Global or pan-European reach Service Range Full hotel asset lifecycle, tailored Full spectrum, sometimes more standardized Fee Structure Lower, no large overheads Higher, reflecting larger structures Industry Recognition ISHC member, leadership roles Many are ISHC members; some have global brand recognition Notable Leadership Ivar Yuste (ISHC VP, expert) Senior directors with global experience (e.g., Horwath HTL, PKF) Examples of Other Leading Firms • Horwath HTL Spain: Part of a global network with over 30 years in the Spanish market, offering strategy, planning, operational support, and transaction advisory with a large team and international reach[5]. • PKF Hospitality Madrid: Opened in 2022, focuses on feasibility studies, valuation

1. PHG Hotels & Resorts: Overview and Position in the Spanish Hospitality
Consulting Market
PHG Hotels & Resorts is a boutique hotel consulting firm based in Madrid, Spain, established in
2009 by experienced hotel executives. The firm specializes in providing tailored consulting
services to hotel owners, investors, and operators, both in Spain and internationally, including
markets such as the UK, France, Portugal, the US, Latin America, and North Africa[1][2][3]
.
Key Features of PHG Hotels & Resorts
 Boutique and Independent: PHG positions itself as the only independent boutique hotel
consultancy in Spain, distinguishing itself from larger, generalist real estate or consulting
firms[2][3]
.
 Senior Expertise: The firm’s partners and consultants have decades of hands-on hotel
management and advisory experience, and do not delegate key work to junior staff. This
ensures clients receive direct, senior-level attention throughout their engagement[1][2][3]
.
 Comprehensive Client Base: Clients include funds, family offices, independent owners,
banks, REITs, insurance companies, and hotel operators[1][2][3]
.
 Range of Services:
o Hotel transactions and leases
o Operator and brand search & selection
o Feasibility and market studies
o Asset management
o Strategic and business advisory throughout the hotel asset lifecycle[2][3]
 Agility and Flexibility: PHG emphasizes its ability to quickly gather market intelligence
and adapt to client needs, offering lower fees compared to larger competitors due to its
lean structure[1][2]
.

2.  Industry Recognition: PHG is a member of the International Society of Hospitality
Consultants (ISHC), and its founder, Ivar Yuste, is a Vice President of ISHC and a recognized
expert in the Iberian hotel market[4][2][3]
.
Comparison with Other Hospitality Advisory Firms in Spain
Feature PHG Hotels & Resorts Major Competitors (e.g., Horwath HTL, PKF
Hospitality, Catella, HCI)
Size & Structure Boutique, independent Larger, often global or multi-office firms
Focus Pure hotel sector, owner/investor
advisory
Broader real estate, corporate finance, or multi-
industry focus
Senior
Involvement
Direct, hands-on Often a mix of senior and junior consultants
Market Coverage Spain-centric, selective
international
Global or pan-European reach
Service Range Full hotel asset lifecycle, tailored Full spectrum, sometimes more standardized
Fee Structure Lower, no large overheads Higher, reflecting larger structures
Industry
Recognition
ISHC member, leadership roles Many are ISHC members; some have global brand
recognition
Notable
Leadership
Ivar Yuste (ISHC VP, expert) Senior directors with global experience (e.g., Horwath
HTL, PKF)
Examples of Other Leading Firms
 Horwath HTL Spain: Part of a global network with over 30 years in the Spanish market,
offering strategy, planning, operational support, and transaction advisory with a large
team and international reach[5]
.
 PKF Hospitality Madrid: Opened in 2022, focuses on feasibility studies, valuations,
operator search, project development, and asset management, leveraging PKF’s
international resources[6]
.

3.  Catella Spain: Specializes in hotel investment and advisory, with a strong focus on asset
valuations, M&A, and financial structuring, serving institutional investors and hotel
chains[7]
.
 Hotel Collection International (HCI): Multi-brand hotel management company with a
focus on launching and positioning hotels for major brands like Hilton and Marriott[8]
.
 Other Boutique Firms: Such as Hotelient and Innergy Partners, which focus on
technology-driven solutions or specific aspects of hotel management and consulting[8]
.
Distinctive Attributes of PHG
 Deep Specialization: Unlike many competitors that are part of larger real estate or
corporate finance groups, PHG’s core expertise is exclusively in the hotel sector, providing
a focused, hotelier-led approach[2][3]
.
 Personalized Service: PHG’s smaller size allows for bespoke solutions and direct
involvement from senior advisors, which contrasts with the more standardized processes
of larger firms[1][2][3]
.
 Market Reputation: The firm and its founder are highly respected in the Spanish and
Iberian hospitality markets, with frequent participation in industry conferences and
media[3]
.
Conclusion
PHG Hotels & Resorts stands out in Spain’s hospitality advisory landscape as a specialized,
independent boutique firm with a strong reputation for senior expertise, personalized service,
and deep sector focus. While larger firms like Horwath HTL, PKF Hospitality, and Catella offer
broader, often more standardized services with global reach, PHG’s agility, direct senior
involvement, and competitive fee structure make it a preferred choice for owners and investors
seeking tailored, high-level hotel advisory in Spain and select international markets[1][2][3]
.
⁂

4. 1. http://phghr.com/en/hotel-consulting/
2. https://phghr.com
3. https://ishc.com/consultant/ivar-yuste/
4. http://phghr.com/en/hospitality-advisors/
5. https://horwathhtl.com/office/spain/
6. https://www.pkfhospitality.com/our-offices/europe/spain/
7. https://www.catella.com/en/spain/corporate-finance/hotels
8. https://ensun.io/search/hospitality-management/spain