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©Reuters. Hotel investment exceeds 2,050 million euros until September
Madrid, Sep 15 (.).- Hotel investment has exceeded 2,050 million euros in Spain until September and could reach record volumes similar to those of 2017 by the end of the year, according to the report presented this Thursday by the consulting firm Catella Spain.
Hotel investment in Spain has increased by 22% this year compared to 2021, while in the rest of Europe it has decreased by 15% in the same period.
The consultancy has highlighted that, despite the great uncertainty that the rise in interest rates announced by the central banks could cause at the end of the year, the hotel segment continues with the upward cycle that began in 2021, the year in which investment returned at pre-covid levels, and it does not seem to be affected by the current economic, political and energy instability.
The average price in all operations with hotels registered in Spain until September per room was 174.60 euros, with an average transaction value per purchase of 28.8 million euros.
The destinations where the most sales operations have been carried out until September have been Madrid, Barcelona, the Balearic Islands, the Canary Islands and the Costa del Sol.
Regarding investors, the large funds represent 61% of the investment and the Real Estate Investment Limited Companies (socimis) decrease their market share from 15% in 2021 to 5% this year.
The report’s data indicates that, compared to 2021, when many hotel chains decided to divest assets to obtain liquidity, this year they are once again leading the way, accounting for almost 12% of total investment, although this is mainly due to the acquisition by the Leonardo group of the portfolio of KKR (NYSE:).
56% of the investments belong to the urban segment, with Madrid at the head, which concentrates more than 30% of the purchase and sale operations, with an investment of 580 million euros until September.
For its part, Barcelona, which occupied the first position last year, has seen its investment volume decrease by 70% in 2022.
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