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August 14, 2014

Growth of investments in the hotel sector in Spain

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Growth of investments in the hotel sector in Spain

Spain continues to exceed the travel records, and not only in the number of foreign tourists visiting the country. This time we are talking about the hospitality sector. Total investment in the hotel business in Spain for the first 6 months of 2014 has already reached a higher value than in the entire 2013. Thus, the sector has allocated for the improvement of existing hotel facilities and for the acquisitions of new building – 742,000,000 euros.

The hotel industry in Spain recorded inflow of investments of 742 million euros in the first half of 2014, the amount rather more than 665 million euros, registered during 2013, according to the data of the consulting company CBRE. This improvement was due to good data on the country's tourism, which has registered a new record of 124,500,000 overnights, which, in turn, have made a positive impact on key indicators of the hotel sector in Spain.

In the first half of 2014, the number of overnight stays increased significantly in Madrid, namely by 12.5%. In fact, the tourist market of the capital of Spain has been marked by gentle growth trend due to its high dependence on business travel. At the same time, the number of overnight stays of tourists increased by 6.6% in Barcelona. This factor is enhanced by the fact that domestic demand for the first time since the beginning of the economic crisis has shown the positive development trend, with an increase of 3% compared with the first half of 2013.

Recovery in domestic tourism, which accounts for 50% of the total country's tourism, also had a positive impact on the investment market of hotel sector, where the international investment companies and private investors have focused 70% of their transactions. The main directions of these transactions in the first six months of this year were the touristic hotels of Spain, which accounted for half of the operations, and which are located on the beaches of the Mediterranean coast.

“Investments to acquire holiday hotels, representing half of transactions, are significantly higher than the figures of 2013,” said the director of consulting company CBRE in Spain, Jorge Ruiz. Such resorts of “sun and beach” of Spain, as Castellon, Valencia, Catalonia and the Costa Dorada, are the most favorable for investment.

 

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