Pandemic Spain hotels purchase increase - The pandemic triggers the purchase of hotels in Spain and average prices per room mark a historic high.
The crisis caused by COVID-19 has been an opportunity for investment in the hotel sector.
The pandemic has increased sales processes that have triggered hotel investment in our country in 2021 and have managed to reach 3,180 million transactions, its third best historical record, according to Expansión.
This figure is far from the initial estimates of analysts who did not expect to triple the volume of 2020 and grow by 26% compared to 2019.
In addition, average room prices have also broken a record, as many of the assets sold are characterized by their location and features.
Pandemic Spain hotels purchase increase
According to data from the consultancy Colliers and now publishes Expansión, last year a total of 127 hotels with 22,249 rooms were sold in Spain, while in 2020 there were 68 hotels and 7,228 rooms.
On the other hand, another 18 assets changed hands between land for hotel development and real estate for conversion to hotels.
The pandemic has reawakened interest in investing in Spanish hotels, according to the consultancy, which points out that in 2021 it was relevant in the sale of hotel portfolios, with 12 portfolios transacted with 56 hotels and 9,375 rooms.
The largest transaction was the purchase of Selenta's portfolio by Brookfield, which paid 440 million euros for 4 hotels, with 2,236 rooms, in Barcelona, Marbella and Tenerife.
The Investment Banking area of Bankinter was made last year with 8 Meliá hotels valued at about 200 million euros, although the hotel will continue to operate them and maintain 7.5%.
Pandemic Spain hotels purchase increase and individual acquisition
Nor is the individual acquisition of the hotel Madrid Edition by Archer Hotel Capital (hotel investment vehicle participated by the Singapore fund GIC and the Dutch fund APG) for 205 million and that of the Gran Hotel Calderon in Barcelona by Lasalle to NH for 125 million.
Also relevant was the purchase of the RIU a TUI family of the 49% that it did not control in the Riu Hotels patrimonialism society, an operation of 670 million and which includes 19 hotels in several countries (8. of them in Spain).
As the same newspaper points out, some funds have chosen to enter directly into the capital of listed companies with hotel assets: Castlelake has become the first shareholder (42.5%) of the Reit Millenium with an investment of 180 million euros.
The consultant assures that, today, there are operations between hands worth 1,500 million euros.
1500 milion euros Pandemic Spain hotels purchase increase
Not only will they be large chains, but in 2022 there will also be movements among the smaller or individual ones that have seen their box quite affected after the crisis. These transactions will be smaller, according to Colliers.
In any case, they add, transactions have not been characterized by large discounts, as expected, but have set record average prices per room of 157,648 euros, 32% more than in 2020.
The highest price per room was the purchase by RLH Properties of the Bless hotel in Madrid from Aina Hospitality and the group of investors led by Grupo Didra for 115 million, that is, a cost per room of more than one million euros.
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