This summer, the hotel sector showed the best occupancy and booking data indicators compared to 2020. The real estate sector is also optimistic about the fourth quarter of the year. It is expected that investments in the sale and purchase of hotels in Spain in 2021 will exceed 2.5 billion euros. This will be equal to the amount recorded in 2019, a year before the outbreak of the pandemic, according to a report prepared by the real estate consulting company Catella.
This year, investments in the hotel business have already amounted to about 2 billion euros. In July alone, transactions worth more than 950 million euros were concluded in this sector – the number of transactions that were generally achieved in 2020.
In addition to the large liquidity in the market, the number of hotels put up for sale in 2021 was also the boost for investment in the hotel sector, says Javier Bravo, head of the Hotels and Hospitality department.
According to Catella, more than 50% of the investments made to date in hotels are accounted for by five deals. In particular, it comes to the sale of a portfolio of four Selenta hotels, and of eight Meliá hotels, Hotel Edition Madrid, Barcelona Gran Hotel Calderón, and Hotel Hesperia Presidente.