The recent boost in the tourism sector keeps Spain among the most attractive European countries to invest in hotels. According to the consulting firm Cushman & Wakefield, between March 2022 and March 2023 the sector has attracted 2,654 million euros of investment , the third best figure in the Old Continent. Only the United Kingdom (3,687 million euros) and France (3,303 million) exceed the domestic record. The consultancy firm's study states that these three markets “have been the most attractive markets with the most business, accumulating 52% of the total activated investment volume in the last 12 months, which has been 18.6 billion euros throughout Europe.” Regarding the most recent balance, Cushman & Wakefield places it at 487 million euros during the first quarter of the year, which represents almost 12% of the continental total (4.1 billion euros) and ranks as the most notable operation of this beginning of year to the purchase of the Sofía hotel in Barcelona by the management company Blasson Property, in alliance with.
Axa IM , which has acquired the 500-room establishment for approximately 180 million euros from Brookfield. However, in the domestic market the recent investment figures are below the previous year, while they are growing in Europe as a whole. Specifically, this volume of 2,654 million euros raised between WhatsApp Number List March 2022 and 2023 is 1% lower than that achieved in the previous 12 months. On the other hand, the European figure represents an increase of 18% compared to the almost 3.5 billion achieved in the same period of 2022, despite the increase in financing costs and doubts about the economic and geopolitical situation. The strong growth is mainly due to some significant operations, such as the sale of the Westin in the capital of France, the Mandarin Oriental in the Turkish city of Bodrum and Le Richemond in Switzerland's Geneva.
The good news is that the consulting firm expects a comeback in investment in the coming months. Albert Grau, partner and co-director of Cushman & Wakefield Hospitality in Spain , assures that “the focus of hotel investors remains on Spain despite the fact that financing conditions make it difficult to close operations. In the second half, we expect new opportunities to emerge in both the vacation and urban segments, where the recovery of activity is complete.” For his part, Bruno Hallé, partner and co-director of Cushman & Wakefield Hospitality in Spain, highlights that “ the figures point towards a positive evolution of investment activity in the coming months. In Spain, once the holiday season ends, which is expected to be excellent, we sense greater negotiating capacity for both buyers and sellers due to market liquidity conditions and difficulties in debt refinancing.