Spain enters the world podium of hotel investment. According to data from the consulting firm Colliers, during 2023 this real estate sector captured 4,248 million euros of investment, almost 30% more than a year before and the second highest figure in the historical series, only surpassed by that registered in 2018.
The volume of investment in hotels made Chinese Student Phone Number List Spain the most prominent country in all of Europe and the second in the world, only surpassed by the United States.
The consultancy details that hotel investment includes investment in hotels in operation, properties for conversion into hotels and land for hotel development; and that during last year 171 hotels and 21,748 rooms were transacted , compared to 133 hotels and 17,754 rooms the previous year. Likewise, 34 operations were carried out on land for the development of hotels and properties for conversion into hotels.
"After exceeding the barrier of 3,000 million euros in the previous two years, 2023 has beaten all forecasts, placing itself only behind 2018. In addition, the 4,248 million euros of investment have positioned hotels as the most in-demand real estate assets in the national market in 2023 and have catapulted Spain to first place in hotel investment in Europe, ahead of usual protagonists such as the United Kingdom, Germany and France, which during the past year have seen real estate investment decline sharply with falls in some cases greater than 50% compared to normalized years. This circumstance, together with the enormous attractiveness of Spain as a hotel investment destination, with international funds carrying out mega operations in our market, has allowed our country to be placed on the world podium of hotel investment, for behind the United States and surpassing such relevant destinations as Japan, Australia or Canada," details the Colliers report.
The document emphasizes that other traditionally very powerful countries such as the United Kingdom, Japan, Canada or Germany have not managed to surpass the investment accumulated by Spain, remaining in most cases at volumes much lower than 3,000 million euros. At the same time, the power of the United States stands out. A market that, with 23 billion dollars raised (about 21 billion euros at the current exchange rate), " obviously plays in another league."
The most important operations of the year
During 2023, important portfolio operations were carried out. Proof of this is that the three most relevant accumulated 2,000 million euros of investment , almost half of the volume of the year as a whole. In total, the 11 operations registered last year covered 110 hotel assets and 14,320 rooms, representing a total investment of 2,615 million euros. This amount is equivalent to 62% of the total volume and reflects an impressive increase of 94% compared to 2022.