Starwood Hotels is set to continue its aggressive European expansion and rebranding programme.
Wilke See-Tho, vice-president of acquisitions and development for Europe, Africa and the Middle East, told delegates at the International Hotel Conference in Monaco that the group was about to complete on four hotels in Spain.
All four properties, which will be operated as Westin or Sheraton brands, were in new mixed-use resorts in Spain.
See-Tho said: "While there's currently oversupply in Barcelona and Madrid, these properties will be new-builds and will be ready in two to three years' time when the economic cycle has recovered.
"The supply currently available in the resort market in Spain has become obsolete, so the resorts that we'll be involved in will be the future of the Spanish hotel market."
The hotel group will also look to acquire other management contracts throughout Europe and make "select investments" buying prime properties, he said.
He added that the group would invest £12m to rebrand the former Paris InterContinental as a Westin hotel.