Tourism kicks off It gave investors back their appetite to continue buying hotels. The latest report by CBRE reveals that between January and March, 37 properties worth €995 million were dealt, which means tripling the results obtained between January and March 2021. -19, the hotel sector is booming again thanks to the return of tourism and the consequent increase in demand. Jorge Ruiz, Hotel Manager at CBRE.
Of the 37 hotels that have traded so far this year, 19 were 4-star and 6 were five-star., which highlights the greater interest in the assets of the higher classes. This is just the beginning of the buying fever forecast for the next 18 months, when, according to the consultant, another 170 hotels are expected to open in Spain, which will contribute 23,000 rooms to the hotel factory. Many of them will be able to buy and sell before opening.
The demand for hotels in sunny and beach destinations remains more than urban hotels, affected by reduced air connectivity and a slowdown in business tourism. Holiday hotels accounted for 57% of operations at the end of March compared to 43% of urban destinations, thanks to pushing Madrid and Barcelona as neighbors to attract travelers. The Balearic Islands concentrated 24% of the investment, followed by Madrid (22%), the Canary Islands (15%) and Barcelona (15%)
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