The hotel chain has announced plans to expand with the opening of a hotel in the city of Antigua Guatemala in the short term.
Angel Rodriguez, general manager of the company, said the company's intention is to acquire an established hotel with about 200 rooms.
The expansion plan is expected to take place in no more than three years.
Prensalibre.com quoted the executive as saying, "We have been studying the market and in order to be profitable the hotel must have more than 150 rooms."
The government is looking for Spanish hotel groups to invest in the country, offering them almost 100% tax exemptions for 10 years.
These benefits could be extended if the company invests, in the 10 year period, at least 35% of the original sum.
Nicaragua wants to enlarge its hospitality offering, currently 7.800 at hotel rooms, to compete with its neighbors. Costa Rica, for example, has 38,000.
Costa Rica will have two new hotels from the Spanish chain, one in Jacó in late 2010 and the other in Guanacaste in 2011.
The construction of the 150-room Barceló Jacó Beach Hotel is scheduled to open in late 2010 and the 248-room Barceló Playa Azul Hotel in Guanacaste will open its doors in late 2011. They will involve investments of $64.5 million and $237 million, respectively.