Investment in the Spanish hotel sector grows 162%

Investment in the Spanish hotel sector grows 162%

This increase is due principally to the strong demand from investors to buy and to capitalize hotel assets, taking advantage of the clear recovery in real estate in Spain, and the consolidation of the economy, which is predicted to end the year with an increase in GDP of 3.1%. Thus, it is expected that international tourism will reach 70 million visitors this year for the first time.

Accordingly, one of the most relevant operations of the year has been the sale of the five-star hotel Pullman Barcelona Skipper, for 90 million euros, in consultation CBRE. 

In addition, according to data from this real estate consultancy, the increasing number of potential projects in Spain is a cause for optimism for new business at the beginning of 2017.

On the other hand, investment in the hotel sector in Europe reached a total of 3,800 million euros in the third trimester of 2016,  a positive amount in respect of the rest of the financial year. Since the beginning of the year, investment has totalled 10,300 million euros in Europe.

For Jorge Ruiz, who is responsible for CBRE Hotels in Spain, “the investment appetite in Spain is more and more thanks to the strengthening of the fundamentals of the economy, the rhythm of growth in the country and the attractive price of assets compared to other European destinations. Also, the liquidation of product loans will reinforce business activity in the market for the following months. Furthermore, we have identifies distinct key value-added opportunities for more conservative sources of capital.

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